Thailand delays VAT rise again to 2016
- Mar 21, 2015 | Richard Asquith
Thailand has confirmed that it will again postpone its long-awaited Value Added Tax increase from 7%.
There had been plans to raise Thai VAT to 8% in September this year. However, there has no been the hoped for growth in the economy or return in consumer sentiment. Thai VAT had been 10% for many years, but was cut during the global financial downturn – although the cut must be renewed every October 1.
Thailand is also under pressure to track its competitive neighbor, Singapore, which has a GST rate of 7%.