Thailand's Ministry of Finance issued a release on 24 August 2021 announcing that the Cabinet has approved a decree for the extension of the reduced VAT rate of 7% until 30 September 2023. 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. The reduced rate is generally extended on a yearly basis but considering the impact of COVID-19, it was decided to extend the reduced rate by two yea…