The prime minister has asked all Thais to make sacrifice for the nation in order to raise 100 billion baht for unspecified projects by raising the value-added tax by 1%. (Post Today graphic)PRACHIN BURI - Prime Minister Prayut Chan-o-cha has asked Thais to sacrifice by paying 1% more in value-added tax (VAT) to reap 100 billion baht for the state coffers. The prime minister made the plea Thursday before a gathering of residents who welcomed him at Prachin Ratsadornamrung School in this province east of Bangkok. Gen Prayut argued the VAT rate has been kept at 7% for many years and only a 1% increase could generate more than 100 billion baht in additional tax revenues. He warned the media against juxtaposing the prime minister's request for 100 billion baht via VAT with any suggestion the nation is broke.

Source: Bangkok Post March 09, 2017 21:53 UTC