Parties line up to oppose VAT increaseListen to this articleMajor political parties contesting the 2026 general election have lined up to oppose proposed increases in value-added tax (VAT), warning that higher consumption taxes would further burden households and businesses struggling with economic pressures. Korn Chatikavanij, deputy leader of the Democrat Party, said his party opposed a VAT increase under current economic conditions, arguing it was inappropriate while growth remained fragile. However, he said the party supported a gradual increase in corporate income tax to 25% from the current 20%. By comparison, Singapore's corporate tax rate is 17%, with an effective rate of 6.4%. On personal income tax, Mr Korn said the Democrats proposed raising the income threshold exempt from tax.

Source: Bangkok Post January 24, 2026 03:50 UTC