Don’t worry about VAT rise, says tax boss
The Revenue Department director-general Prasong Poontaneat has quelled concerns about the latest royal decree that stipulates a VAT hike to 9 per cent next October.
He said that when next year came, he believes another decree would be issued to maintain VAT at the present 7 per cent rate.
The revenue code of 1991 set a VAT ceiling at 10 per cent. But every year over the past 25 years, a royal decree was always issued to maintain the rate at 7 per cent (including local tax).
