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Delay in Thai Tax Hike May Postpone Balanced Budget.
Byline: Wichit Sirithaveeporn
Feb. 6--Holding value-added tax at 7 percent and scrapping plans to increase the levy could delay by one or two years plans to return to a balanced budget by 2006, a senior Finance Ministry official has said.
But the offical, who declined to be identified, said higher growth and the potential gain from growing trade and consumer spending by keeping the 7 percent rate could help offset any revenue loss.
On Tuesday, Prime Minister Thaksin Shinawatra told the cabinet there was no need to raise VAT, given the stronger-than-expected tax revenue from economic gains in recent months.
VAT had been scheduled to ...
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