Extending the 7% VAT Rate

The Cabinet has extended the 7% VAT rate (inclusive of local administrative tax) for another 2 years, i.e. from 31 October 2010 to 30 September 2012.

Keywords: Tax, Thailand, VAT

From 1 October 2012 the VAT rate will rise to 9%, which is still lower than the rate of 10% as per the Revenue Code. It is not known how long the 9% rate would apply for.