The incoming Bhumjaithai-led administration will not raise the value-added tax (VAT) rate to 10% over the next three years, a BJT executive said, adding that the party's immediate focus is economic recovery. BJT deputy leader Siripong Angkasakulkiat gave the assurance on Monday in response to a proposal floated by a Senate sub-committee on economic, monetary and fiscal affairs last week. The sub-committee suggested gradually restructuring the tax system -- including a phased VAT increase to 10% -- sparking speculation that the incoming government might consider raising the VAT ceiling, which is currently capped at 7%. Mr Siripong dismissed concerns about a possible VAT hike, saying the government has no plans to raise VAT in the short term. "The first priority is to restore the economy, not to collect more revenue through charging higher VAT," said Mr Siripong.

Source: Bangkok Post February 23, 2026 22:01 UTC