VAT to remain at 7% for another year

Finance Ministry to keep the value-added tax that is applicable on most goods and services at 7 percent for at least another year, Deputy Finance Minister Sommai Phasee said Tuesday.

The extension will keep the 7 per cent VAT rate effective in the fiscal year 2008 that starts October 1, 2007.

Parliamentary elections will take place in December 16, or 23. A new government is expected to be formed early next year.

- The Nation