{"id":141426,"date":"2021-08-24T20:00:12","date_gmt":"2021-08-24T12:00:12","guid":{"rendered":"http:\/\/www.namnewsnetwork.org\/?p=141426"},"modified":"2021-08-24T20:00:12","modified_gmt":"2021-08-24T12:00:12","slug":"thailand-maintains-7-pct-vat-rate-for-another-two-years","status":"publish","type":"post","link":"http:\/\/namnewsnetwork.org\/?p=141426","title":{"rendered":"Thailand Maintains 7 Pct Vat Rate For Another Two Years"},"content":{"rendered":"\n<p>BANGKOK, Aug 24 (NNN-Bernama) \u2013 Thailand\u2019s cabinet has agreed to maintain the value-added tax (VAT) rate at seven per cent for another two fiscal years, in a bid to support the kingdom\u2019s economic recovery.<\/p>\n\n\n\n<p>The VAT rate has been at seven per cent since the 1997 Asian financial crisis.<\/p>\n\n\n\n<p>Deputy government spokesperson Rachada Dhnadirek said Prime Minister Prayut Chan o-cha, who chaired a cabinet meeting Tuesday, has agreed to retain the VAT rate until Sept 30, 2023.<\/p>\n\n\n\n<p>\u201cThe unchanged VAT rate will not affect the government\u2019s revenue projection in the fiscal years 2021-2022 and 2022-2023 as the calculation is based on a seven per cent VAT rate,\u201d she said at a press conference, here, Tuesday.<\/p>\n\n\n\n<p>Thailand is facing an uphill battle to contains its worst COVID-19 outbreak as it recorded 1,055,088 COVID-19 patients and 9,788 fatalities since the start of the pandemic in January last year.<\/p>\n\n\n\n<p>Last month, Thailand\u2019s main economic planning body, the National Economic and Social Development Council (NESDC), slashed its 2021 economic growth forecast to 0.7-1.2 per cent from 1.5-2.5 per cent in the previous projection in May.<\/p>\n\n\n\n<p>Thailand\u2019s economy contracted by 6.1 per cent in 2020 due to a decline in external demand affecting trade and tourism, supply chain disruptions, and weakening domestic consumption.<\/p>\n\n\n\n<p>&#8212; NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BANGKOK, Aug 24 (NNN-Bernama) \u2013 Thailand\u2019s cabinet has agreed to maintain the value-added tax (VAT) rate at seven per cent for another two fiscal years, in a bid to support the kingdom\u2019s economic recovery. The VAT rate has been at seven per cent since the 1997 Asian financial crisis. Deputy government spokesperson Rachada Dhnadirek said [&hellip;]<\/p>\n","protected":false},"author":27,"featured_media":77186,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[215,288,300],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/141426"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=141426"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/141426\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/77186"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=141426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=141426"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=141426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}