The Director-General of the Revenue Department has recently proposed some tax measures to the Minister of Finance. Such measures are as follows:

  1. Extension of 7% standard rate of VAT for an additional year after the current reduction (from 10%) expires on 30 September 2014;
  2. Extension of 20% corporate income tax rate for an additional year after the rate expires at the end of the 2014 accounting period.

Once it got approved by the Ministry of Finance, the proposals will be passed to the Cabinet for review.

Contact MSNA for your Thai accounting and tax questions.