Nation
THE Finance Ministry plans to introduce a 5 per cent value-added tax (VAT ) refund for all shoppers during the Chinese New Year, Finance Minister Apisak Tantivorawong said on Friday.

“We want to shore up consumption and promote the e-payment system,” said Apisak.


The government will give shoppers a 5 per cent VAT refund when they purchase goods from February 1 to 15. The current VAT rate is 7 per cent.


To take advantage of the tax break, shoppers have to use debit cards when buying items and the tax refund will be sent back to them via their “PromtPay” accounts, he said.




MORE 5% VAT refund planned for Chinese New Year