The National News Bureau of Thailand announced on 12 September 2019 that the Thai Cabinet has approved the royal decree for the extension of the reduced VAT rate of 7% until 30 September 2020. 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.