DIT proposes a 3-percent VAT cutJuly 28th, 2008 - 11:23 am ICT by Amrit Rashmisrisethi
Deputy Director-General of the Internal Trade Department (DIT), Mrs. Watcharee Wimuktayon (วัชรี วิมุกตายน), said she will propose to the Ministry of Finance for a 3-percent VAT cut. She claims the move will help assist entrepreneurs and consumers amidst the economic crisis and help curb inflation.
To reduce costs of production for entrepreneurs, Mrs. Watcharee says it will also help lower costs of consumption for public members as well. According to this concept, DIT considers lowering VAT from 7 percent down to 3 percent. Mrs Watcharee further added that the idea was part of the government’s 6 month relief package program.
Mrs. Watcharee also expresses her confidence that the 3-percent VAT cut measure will help curb inflation in Thailand.
Source : National News Bureau, Public Relations Department of Thailand