Thai finance officials agree it would be crazy to even consider raising taxes, so they say they’re not.
That’s the essence of comments from (caretaker) Finance Minister Kittirat Na Ranong in response to spreading rumors the value added tax would soon be raised to 10 percent.>
“No government in the world really wants to raise VAT,” he said.
Speculation that officials would seek to raise the VAT comes as the tax’s authorization expires later this year and will need to be renewed, according to NNT.
But Kittirat said the caretaker government has no interest in increasing the tax burden and would have to seek approval of any such change through the election commission.
The bill authorizing the current 7-percent VAT expires Sep. 30.
Photo: World Economic Forum
Reader Interactions