BANGKOK, Thailand – The Cabinet has approved an extension of the reduced value-added tax rate, keeping it at 7 percent for another year in light of current economic conditions.
Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas said the rate, previously set to expire at the end of September 2026, will now remain in place until September 30, 2027. The decision follows an assessment that economic conditions are not yet suitable for an increase.
The government will continue to follow its medium-term fiscal framework, which includes plans to gradually raise the VAT rate as economic conditions permit. (NNT)
