Post by account_disabled on Jan 6, 2024 4:25:42 GMT
Mr. Uttama Savanayana, Minister of Finance, revealed that today's Cabinet meeting (Cabinet) resolved to approve the extension of the Value Added Tax (VAT) rate of 7% for another year from when it will end in 2019. Date: 30 September 2019 as proposed by the Ministry of Finance Due to the current economic situation, it is not appropriate to return to the original rate of 10%. The economic situation will be assessed on a year-to-year basis first. To be able to correctly analyze the direction of the economy.
“We have looked at it, so we would like to extend it for another year Email Data at 7%, like last year, which is considered appropriate for the economic situation. and the future will be evaluated again. The reason for not extending it to 2 years is because we think that doing it year-on-year will help us assess the direction of the economy more closely," the Finance Minister stated. 1_47 However, previously the amount of VAT collection decreased. The main reason that the collection decreased came from 2 parts: the value of imports that decreased due to the strengthening baht. and another part comes from the slowdown of the economy in the country itself.
But from the latest report from the Revenue Department, it was found that at the end of August. Revenue from VAT collection increased 4.4% from the same period last year, which is a sign that domestic consumption has begun to return. “The government is trying to make the domestic economy circular. and can move forward We therefore issued measures to stimulate the economy last August, but all sectors must help build confidence as well," the Finance Minister stated. In addition, today's Cabinet meeting also approved measures to stimulate investment as proposed by the Office of the Board of Investment (BOI) and considered by the Cabinet for Economic Affairs. (Economic Cabinet) last week
“We have looked at it, so we would like to extend it for another year Email Data at 7%, like last year, which is considered appropriate for the economic situation. and the future will be evaluated again. The reason for not extending it to 2 years is because we think that doing it year-on-year will help us assess the direction of the economy more closely," the Finance Minister stated. 1_47 However, previously the amount of VAT collection decreased. The main reason that the collection decreased came from 2 parts: the value of imports that decreased due to the strengthening baht. and another part comes from the slowdown of the economy in the country itself.
But from the latest report from the Revenue Department, it was found that at the end of August. Revenue from VAT collection increased 4.4% from the same period last year, which is a sign that domestic consumption has begun to return. “The government is trying to make the domestic economy circular. and can move forward We therefore issued measures to stimulate the economy last August, but all sectors must help build confidence as well," the Finance Minister stated. In addition, today's Cabinet meeting also approved measures to stimulate investment as proposed by the Office of the Board of Investment (BOI) and considered by the Cabinet for Economic Affairs. (Economic Cabinet) last week
