The Revenue Department would like to announce that VAT rate of 7% will remain until 30th September 2019 as prescribed by the Royal Decree issued under the Revenue Code regarding Value Added Tax rate reduction (No. 669) B.E. 2561.
VAT shall remain at 7% tax rate, inclusive of local tax (VAT 6.3% and local tax 0.7%) for all sales of goods, services, or imports. It is referred to VAT rate reduction as the VAT rate of 10% is prescribed by the current Revenue Code. Therefore, the Royal Decree is issued to reduce the VAT rate to 7%, inclusive of local tax.
The main purpose of this extension is to stimulate the economy and reduce the cost of living, to improve business confidence for the private sector and to invest in transport Mega projects. This will eventually lead to the stable and continuous growth of consumption and investment in Thailand.
The entrepreneur or taxpayer who needs more information can visit the Revenue Department’s website at www.rd.go.th or make an inquiry at any Area Revenue Office or the RD Intelligence Center, Tel. 1161