Time for a hike in VAT? This week Mr Sommai came up with a bold suggestion: the government should raise the value-added tax (VAT) rate from 7% to 10%. Such a tax increase may be inevitable as numerous relief packages have left the state loaded with debt. The Prayut government should study the possibility of raising VAT back to the 10% rate. Of course, there will be adverse effects from the increase, with more hardship for several sectors, but if the money is used prudently, the tax hike could offer an advantage eventually.

Source: Bangkok Post September 09, 2020 23:48 UTC