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VAT mulled for firms with less revenue
Bangkok Post
|May 02, 2025
B1.8m threshold may be erased
Finance Minister Pichai Chunhavajira yesterday floated an idea of collecting value-added tax (VAT) from businesses with an annual income below 1.8 million baht to boost state income and reduce budget deficits.
Currently, businesses with an annual income of that amount or higher are required to pay VAT in addition to other taxes.
The finance minister proposed introducing “VAT Category 2” as adopted in some European countries. If businesses with annual earnings of 1.5 million baht pay 1% VAT, it would generate an additional 200 billion baht in revenue.
This story is from the May 02, 2025 edition of Bangkok Post.
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