TCC disagrees with government’s VAT increase plan

The Thai Chamber of Commerce (TCC) has expressed its disagreement with the government’s plan to increase VAT, as it will affect people’s purchasing power.

According to TCC Vice Chairman Pornsilp Patcharintanakul, the government’s plan to increase the value-added tax (VAT) will greatly affect people’s purchasing power, despite the fact that the economy has not yet fully recovered.

Mr Pornsilp suggested that the government impose collect different VAT rates for different products, saying the VAT on basic needs products should be lowered to 2-3%, while that on luxury products could go as high as 12%.

Charging the same tax rate for different classes of people would be unfair, said the vice chairman, commenting that the plan has not been thoroughly considered.

Via สำนักข่่าวแห่งชาติ : TCC disagrees with government's VAT increase plan.

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