ID :
132649
Tue, 07/13/2010 - 09:26
Auther :
Shortlink :
http://m.oananews.org//node/132649
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VAT increase will fuel direct consumer and taxpayer burdens
BANGKOK, July 13 - A proposed increase in the value-added tax (VAT) to 8 per cent from 7 per cent by the Fiscal Policy Office, if approved, will fuel
burdens borne by consumers and taxpayers directly, according to the Federation of Thai Industries (FTI).
Responding to the statement made by FPO that it was studying the possibility of raising VAT by 1 per cent, FTI president Payungsak Chartsuthipol said it would increase the government’s revenue by Bt50 billion per year.
But a VAT increase could directly affect spending by consumers and taxpayers, he said, which might eventually lower the public's purchasing power.
He said operators in the industrial sector could not yet comment whether they support the proposed VAT increase because they had just been aware of the matter.
“We must wait for clear information and seek the opinions of FTI members nationwide on the proposed tax increase before making a recommendation on the matter,” he said. (MCOT online news)
burdens borne by consumers and taxpayers directly, according to the Federation of Thai Industries (FTI).
Responding to the statement made by FPO that it was studying the possibility of raising VAT by 1 per cent, FTI president Payungsak Chartsuthipol said it would increase the government’s revenue by Bt50 billion per year.
But a VAT increase could directly affect spending by consumers and taxpayers, he said, which might eventually lower the public's purchasing power.
He said operators in the industrial sector could not yet comment whether they support the proposed VAT increase because they had just been aware of the matter.
“We must wait for clear information and seek the opinions of FTI members nationwide on the proposed tax increase before making a recommendation on the matter,” he said. (MCOT online news)
