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In what is seen as good news for businesses in Thailand, the Thai Government has extended the reduced Value Added Tax (VAT) rate of 7% for a further 12-month period.
The VAT rate in Thailand is set by the Revenue Code at 10%, and was originally scheduled to increase to this level in 2012. However, successive Cabinets have extended the reduced 7% rate, and in its meeting on 13th September 2016, the Cabinet approved a draft Royal Decree extending the reduced VAT rate for another year, from 1st October 2016 to 30th September 2017. .
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