NLA proposes VAT hike to 8 per cent
The National Legislative Assembly has agreed that the value-added tax should be increased from 7 per cent to 8 per cent. However, the final decision on the tax hike will be made by the Cabinet after the NLA submits its proposal for approval. The proposed VAT hike is part of tax reform package proposed by NLA’s committee on the economy, finance and fiscal affairs. Increasing the VAT by 1 per cent would result in Bt60 billion to Bt70 billion more in government revenue, according to the committee. Prime Minister General Prayut Chan-o-cha’s government has maintained the VAT at 7 per cent for fear of public opposition.
