Warning over new VAT threat

Warning over new VAT threat

The proposal to lower the value-added tax (VAT) registration threshold to include businesses with annual revenue of less than 1.8 million baht could increase the burden on small retailers already grappling with weak consumer spending and intense competition, according to the Thai Wholesale and Retail Trade Association.

In Freedom of Opinion, Argañaráz explained that if the distribution of VAT is modified as suggested by the Government, 18 provinces would lose resources, some dramatically. He warned that a deep fiscal consensus is required to avoid an institutional crisis.