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Thailand Proposes New Local Sales Tax in October 2014 and Increase in VAT in 2015

|Proposed Changes|Thailand
Thailand

The Thai government is currently considering a new local sales tax at a rate of 0.7%. The new sales tax would be introduced from 1 October 2014 along with a reduction in the current VAT rate of 7% to 6.3%, maintaining an effective rate of 7%.

From 1 October 2015, the effective rate would be increased to 10%, with an increase in the sales tax to 1% and an increase in the VAT rate to 9%.

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