Thailand's VAT to remain at 7%

BANGKOK, December 12 (TNA) - Thai Deputy Prime Minister Kittirat Na-Ranong has announced that the government will maintain the country's value-added tax or VAT imposed on consumer goods and services at 7 per cent. Kittirat, who is also Commerce Minister, affirmed that his Puea Thai Party-led administration has no plan to raise the VAT rate from the current 7-per cent, at least for a certain period of time. The deputy premier said, as Thailand's average export growth is foreseen to reach 15 per cent this year despite widespread flooding over the past couple of months and local private firms are believed to be able to cope with a post-flood minimum wage hike, the government will, therefore, go ahead with its plan to raise the country's daily minimum wages to 300 baht across the country. The deputy premier insisted that the new 300-baht daily minimum wage will be first enforced in Bangkok and other six other provinces from April 1, 2012, noting that the other six provinces include Nonthaburi, Pathum Thani, Nakhon Pathom, Samut Prakan, Samut Sakhon and Phuket. (TNA)