Update from yesterday: no VAT reduction
Finance and Deputy Prime Minister Surapong Suebwonglee on Monday ruled out the Commerce Ministry’s proposal for a value-added tax (VAT) cut to 3 per cent from 7 per cent, saying the government had implemented a number of new tax measures to help the public.
He said the government had previously decided to postpone an increase in VAT to 10 per cent from 7 per cent for another two years to help ease people’s burdens.
It had also issued measures to reduce the specific business tax for the property sector, allow a deduction for depreciation, and cut corporate taxes.
Recently, the government introduced six relief measures for six months to help ease living costs of the Thai people.
For commercial viability, he said, people in the business sector needed to learn how to control their costs efficiently.
Dr. Surapong conceded the Thai economy might continue to grow slowly in the second half of this year, but said that the slowdown would not be as severe as that in the first half of the year. (TNA)
Source : Bangkok Post
