Thailand extends reduced VAT rate of 7% for another year
On 20 September 2024, Royal Decree No. 790, which extends the current reduction in the VAT rate for another year, from 1 October 2024 through 30 September 2025, was published in the Royal Gazette.
This extension of the reduction in the VAT rate is part of the government’s ongoing efforts to promote economic stability and stimulate consumer spending. By maintaining the lower VAT rate, the government aims to reduce the financial burden on businesses and consumers, supporting overall economic growth.
Reference (in Thai):
• Royal Decree No. 790. Retrieved from Revenue Department of Thailand
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