Pay 1% more in VAT, PM asks Thais

Local Hua Hin and regional Thailand news articles and discussion.
User avatar
Lev
Forum Admin
Forum Admin
Posts: 5634
Joined: Fri Dec 27, 2002 9:14 am
Location: Hua Hin Forum

Re: Pay 1% more in VAT, PM asks Thais

Post by Lev » Thu Mar 16, 2017 1:33 pm

:offtopic: IC have their own thread to discuss their pricing policy - please keep this one on the proposed national 1% VAT rise.

User avatar
buksida
Moderator
Moderator
Posts: 15820
Joined: Tue Dec 31, 2002 12:25 pm
Location: south of sanity
Contact:

Re: Pay 1% more in VAT, PM asks Thais

Post by buksida » Sat May 20, 2017 4:54 pm

DISOWNING LAWMAKERS’ PROPOSAL, GOVT SAYS NO VAT INCREASE IN 2018
The rubber stamp parliament’s proposal for a VAT increase next year was shot down by the government on Saturday.

While the interim parliament’s committee on economics argued that raising value-added tax from the current rate of 7 percent to 8 percent would help boost the nation’s coffers by at least 60 billion baht, Deputy Prime Minister Wissanu Krea-ngam said the government will not consider it.

“The government has not come up with this idea,” Wissanu told reporters while attending a conference at Banyan Tree Hotel on Saturday. “And I believe that if this issue was submitted to the government, the prime minister would naturally put a stop to it.”

Finance Minister Apisak Tantivorawong likewise told the press Friday he does not endorse the plan.

The call for an 8 percent VAT was first floated by the National Legislative Assembly, or NLA, on Thursday along with other proposals such as taxing online vendors based overseas and introducing a new tax on properties that will benefit from new rail lines.

The NLA’s committee on economics said raising VAT will haul in about 60 billion to 70 billion baht in revenues.

News of the government mulling VAT increase in past years often made a big headlines every year before criticism forced authorities to back down.

Although Thailand’s VAT rate has been officially pegged at 10 percent since the 1997 economic crisis on recommendation from the IMF, successive governments in the following decades have annually postponed the change and kept the actual rate at 7 percent.

This year’s postponement is set to be renewed in October.

http://www.khaosodenglish.com/politics/ ... ease-2018/
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Get out there: On The Road Asia

User avatar
Spitfire
Addict
Addict
Posts: 5171
Joined: Thu Apr 10, 2008 1:17 pm
Location: Thailand

Re: Pay 1% more in VAT, PM asks Thais

Post by Spitfire » Sat May 20, 2017 8:50 pm

Canceling silly stuff like the subs and Chinese tanks makes sense as the only threat to peace around here is China.

Adding 1% to VAT is fine too as you should be taxed on what you spend, not what you earn. And if you are silly rich then you should be taxed at base more. Unfortunately, this society is totally rigged when it comes to everything.

Taxing people on what they spend is good as it encourages saving.....although a controversial topic, noted. People should be encouraged to live in the real world...not some credit orientated 'La la land' which is what happens now.
The state has a monopoly on violence - Max Weber

handdrummer
Guru
Guru
Posts: 615
Joined: Mon Mar 03, 2014 11:58 am

Re: Pay 1% more in VAT, PM asks Thais

Post by handdrummer » Sun May 21, 2017 10:24 am

Spitfire wrote:
Sat May 20, 2017 8:50 pm
Canceling silly stuff like the subs and Chinese tanks makes sense as the only threat to peace around here is China.

Adding 1% to VAT is fine too as you should be taxed on what you spend, not what you earn. And if you are silly rich then you should be taxed at base more. Unfortunately, this society is totally rigged when it comes to everything.

Taxing people on what they spend is good as it encourages saving.....although a controversial topic, noted. People should be encouraged to live in the real world...not some credit orientated 'La la land' which is what happens now.
I think the question is, what would they do with the tax money? if it's just going to go into the politicians pockets then I'd just as soon keep my money in my pocket, thank you very much.

VincentD
Guru
Guru
Posts: 955
Joined: Tue Jun 22, 2004 4:04 pm
Location: Bangkok

Re: Pay 1% more in VAT, PM asks Thais

Post by VincentD » Mon May 22, 2017 7:29 am

Raising the vat and keeping the tax on fuel may be the only way they can get money back from the populace. Consider this - of the approximately 70 million population, about 10 million actually qualify to pay tax. However, as salaries are low, only 3 million actually have to pay.
Of the other 60 million, many have to sell food on the street to earn something, without any real social welfare net. Then they get hit by a further increase in tax? And get kicked off the streets to boot?
My two baht worth..
:rant:
วินเชนท์

Post Reply

Who is online

Users browsing this forum: No registered users and 6 guests