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Thai 7 percent Value-Added Tax to Remain Indefinitely.

Bangkok Post (Bangkok, Thailand)

| February 05, 2003 | COPYRIGHT 2003 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Feb. 5--Value-added tax will be maintained indefinitely at 7 percent, given that the improved economy had reduced pressure on the country's fiscal position, said Prime Minister Thaksin Shinawatra.

The tax rate was lowered to 7 percent from its previous 10 percent rate following the 1997 economic crisis in an effort to boost domestic spending.

But the Finance Ministry had been expected to raise the rate again once the economy had improved in order to help reduce pressure on the public debt and budget deficit.

Last year the government agreed to delay the increase for another year to this October, the start of fiscal 2004, to sustain economic ...

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