Extension of the reduced VAT rate
Currently, the VAT rate is reduced from the normal rate of 10% to 7%. This reduction was set to expire after 30 September 2021, unless another law was passed extending the reduced VAT rate.
Keywords: Mazars, Thailand, Tax, VAT, Royal Decree
13 September 2021
In its meeting on 24 August 2021, the Cabinet approved a draft Royal Decree extending the reduced VAT rate of 7% for another 2 years, from 1 October 2021 to 30 September 2023. Therefore, the reduced VAT rate is expected to continue to apply for that period.
Want to know more?
Jonathan Stuart-Smith Tax Partner - Bangkok
Tax
Tax consulting services Thailand