The Thai Ministry of Finance has announced that on 15 August 2017, the Thai Cabinet approved Royal Decree No. 90/2560(2017), which extends the reduced VAT rate of 7% until 30 September 2018. Thailand's standard rate is 10%, but was reduced to 7% (including local tax) as part of special economic measures taken after the 1997 Asian financial crisis. Each October, the rate is scheduled to revert back to 10% unless the reduced rate is extended.