BANGKOK, 30 Oct 2013 According to the Ministry of Finance, the Value Added Tax rate will not be increased from the current level at least until the end of fiscal 2014.
Deputy Finance Minister Bencha Luicharoen on Tuesday revealed that the government’s revenue collection was still going according to target, although there were concerns about the government’s future investments, especially the 2 trillion baht infrastructure plan. However, the government does not yet have a policy to raise the VAT level from the current 7%, because it has already extended the enforcement of the current rate until the end of fiscal 2014.
Ms. Bencha said she did not want a misunderstanding about the VAT issue to contribute to hoarding of goods, which could affect the cost of living.
