Bangkok, Sept. 11 -- The caretaker Cabinet of Thailand has approved an extension of the current value-added tax (VAT) rate, keeping it at 7% for another year instead of reverting to 10%.
The prolonged reduction will be in effect from October 1, 2025 through September 30, 2026.
Explaining the decision, Thai Deputy Minister of Finance Chulaphan Amornvivat said that the caretaker government feared that if the decision were deferred to the newly appointed Cabinet under Prime Minister Anutin Charnvirakul, it would be too late, and consumers would be forced to pay the 10% VAT starting October 1.
Earlier, Thai Deputy Prime Minister and Finance Minister Pichai Chunhavajira said in an interview that the government needs to consider the need for s...