The National News Bureau of Thailand has announced that on 3 July 2018, the Thai Cabinet approved the extension of the reduced VAT rate of 7% until 30 September 2019. Thailand's standard rate is 10%, but was reduced to 7% (including local tax) as part of special economic measures taken after the 1997 Asian financial crisis. Each October, the rate is scheduled to revert back to 10% unless the reduced rate is extended.
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