VALUE added tax (VAT) will jump to 9% from October 1, 2018 onwards but will remain at the current rate of 6.3% until then, according to a Royal Thai Government Gazette announcement circulated by Kapook.com.
This announcement, published on October 2, 2017, says His Majesty King Maha Vajiralongkorn Bodindradebayavarangkun has approved Royal Decree Number 646 issued this year in accordance with the Revenue Code stating that it is now suitable for VAT to be increased but that the current rate of 6.3% will be maintained until September 30, 2018.
Details of the tax increase are as follows:
- 6.3% VAT for sale of goods, services and all types of imports from October 1, 2017 to September 30, 2018.
9% VAT for sale of goods, services and all types imports from October 1, 2018 onwards.
Top: Taxes on a chalkboard. Photo: GotCredit (www.GotCredit.com) (CC-By-2.0)