Bangkok: Mr. Pichai Chunhavijorn, Deputy Prime Minister and Minister of Finance, has announced that the proposed increase in the government’s value-added tax (VAT) from the current 7% is merely an idea under consideration. He emphasized the necessity of a comprehensive study to weigh the pros and cons of such a tax adjustment, highlighting the importance of understanding global trends while taking measured steps.
According to Thai News Agency, Mr. Pichai remarked on the speculative nature of increasing VAT to 10% or even 15%, clarifying that any such increase is currently not feasible. He highlighted the value of conducting a detailed study to evaluate the potential advantages and disadvantages, stressing the importance of making decisions that ultimately benefit the public. The timeline for the study remains dependent on the broader economic picture, underscoring the need for careful deliberation before any policy changes are implemented.