Siripong: no plan to raise VAT to 10% in next 2–3 years
Siripong Angkasakulkiat, deputy leader of the Bhumjaithai Party, says the government has no plan to raise VAT from 7% to 10% in the next two to three years, after a Senate committee proposal triggered public debate.
Government: focus is recovery, not higher taxes
Siripong Angkasakulkiat, deputy leader of the Bhumjaithai Party, moved to calm public concern over a possible value-added tax (VAT) hike, saying on Monday (February 23) that the current government has no idea of increasing VAT from 7% to 10% within the next two to three years.
He said the government, led by Anutin Charnvirakul and its economic team, is prioritising efforts to revive the economy from a period of sluggishness, rather than seeking to raise state revenue by increasing the tax burden while the public is still facing multiple economic pressures.
Any review only when people “feel the economy is already good”
Siripong said there have been discussions about potential revenue-raising ideas in the future to strengthen confidence among international credit rating agencies. However, he stressed that this remains only a long-term concept.
He said any tax review would be considered only when “people feel the economy is already good” — not simply when GDP figures improve, but when money is circulating widely and reaching people across society.
Siripong urged the public to trust the government’s economic team, saying there will be no short-term tax measures that add to people’s burden until the economy is genuinely ready.
Senate “tax reform” proposal sparked the speculation
The controversy followed a proposal by the Senate Committee on Economic Affairs, Finance and Fiscal Policy, which held a seminar on February 12, 2026 to push for a major overhaul of Thailand’s tax structure.
The committee warned Thailand is facing “boiling frog syndrome” — gradual damage linked to structural demographic change as births fall and the country moves into a “super-aged society”, raising the risk of becoming “old before rich”.
What the Senate committee proposed
Key elements of the proposal include:
- Stepwise VAT increase: Raise VAT from 7% to 10% over three years, increasing by 1 percentage point per year, with estimated additional revenue of 200–300 billion baht a year.
- Elderly savings scheme: Allocate the additional 3% into individual savings accounts, aimed at lifting the elderly allowance to 3,000 baht per month.
- Public debt warning: The committee warned public debt could reach 69.78% of GDP in 2028, close to the 70% ceiling, alongside more than a decade of continuous budget deficits.
Other measures floated
Beyond VAT, the committee also suggested other revenue ideas, including a Thai Receipt Lottery to encourage requests for tax invoices, a 0.11% tax on share sales after decades of exemption, and studies into a gold trading tax and a revived outbound travel levy for Thai nationals of 1,000 baht per person (air travel).
