The Danish-Thai Chamber of Commerce (DTCC) recently shared some good news for Danish and Nordic businesses operating in Thailand.
According to DTCC, there have been plans to increase the VAT rate from 7 percent to a yet-to-be-known rate. However, Thailand’s cabinet on 31 August agreed to keep the value-added-tax rate unchanged at 7 percent for another two years, a government official said, to support economic activity as Thailand deals with its biggest COVID-19 outbreak to date.
The VAT has been at 7 percent since the 1997-98 Asian financial crisis, the DTCC states.
DTCC’s purpose is not only to provide Danish-Thai companies with a stronger collective voice towards the Thai authorities but also to further promote and expand trade between Thailand and Denmark as well as establish a networking forum for the Thai and Danish businessmen living here or traveling here on business.
Find more information about DTCC here