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Minister vows VAT increases
November 21, 2025
|Bangkok Post
Value-added tax to reach 8.5% in 2028
The Finance Ministry plans to gradually raise the value-added tax (VAT) rate by an additional 1.5 percentage points to 8.5% by 2028, Finance Minister Ekniti Nitithanprapas said yesterday.
Additionally, under the plan, the VAT rate will be increased to the full legal ceiling of 10% in 2030, he said.
Adjusting the rate and reducing expenditure are part of the Finance Ministry's plans to strengthen medium-term fiscal stability.
Speaking at Money Expo 2025 Bangkok Year-End yesterday, Mr Ekniti said that the ministry has outlined its medium-term fiscal framework (MTFF), which includes a gradual increase in VAT by 2028.
"I believe that by 2028, Thailand will be able to return to its full growth potential. That may be the right time for us to begin gradually raising VAT," he said.
Mr Ekniti noted that the VAT increase is included in the MTFF, which was approved by the cabinet on Nov 18.
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