ID :
14118
Mon, 07/28/2008 - 16:08
Auther :
Shortlink :
http://m.oananews.org//node/14118
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Finance minister rules out proposed VAT reduction
BANGKOK, July 28 (TNA) – Finance and Deputy Prime Minister Surapong Suebwonglee on Monday ruled out the Commerce Ministry's proposal for avalue-added tax (VAT) cut to 3 per cent from 7 per cent at present, saying the government had implemented a number of new tax measures to help the public.
He said the government had previously decided to postpone an increase in VAT to 10 per cent from 7 per cent for another two years to help easepeople's burdens.
It had also issued measures to reduce the specific business tax for the property sector, allow a deduction for depreciation, and cut corporatetaxes.
Recently, the government introduced six relief measures for six months tohelp ease living costs of the Thai people.
For commercial viability, he said, people in the business sector needed tolearn how to control their costs efficiently.
Dr. Surapong conceded the Thai economy might continue to grow slowly in the second half of this year, but said that the slowdown would not be assevere as that in the first half of the year.
Regarding the direction of future oil prices, the finance minister said it is difficult to forecast whether prices would be up or down because oil experts and funds still had different views on the trend. (TNA)
He said the government had previously decided to postpone an increase in VAT to 10 per cent from 7 per cent for another two years to help easepeople's burdens.
It had also issued measures to reduce the specific business tax for the property sector, allow a deduction for depreciation, and cut corporatetaxes.
Recently, the government introduced six relief measures for six months tohelp ease living costs of the Thai people.
For commercial viability, he said, people in the business sector needed tolearn how to control their costs efficiently.
Dr. Surapong conceded the Thai economy might continue to grow slowly in the second half of this year, but said that the slowdown would not be assevere as that in the first half of the year.
Regarding the direction of future oil prices, the finance minister said it is difficult to forecast whether prices would be up or down because oil experts and funds still had different views on the trend. (TNA)
