Government officials are proposing an increase in value-added tax (VAT) of 1 percent.
They are also proposing that the additional government income only be used on education and health care.
The additional percent is expected to add THB60-70 billion to the government’s funds annually.
Also included in the National Legislative Assembly (NLA)’s proposal was variable VAT amounts that relate the government’s thoughts on the necessity of the product or service being bought, reported Bangkok Post.
The NLA also wants to put a windfall tax on landowners or businesses that stand to benefit from land prices going up in places new rail lines pass. They also hope to start taxing imported good worth less than THB1,500.
The proposal has been approved by the NLA and sent to the cabinet.
The VAT has been 7 percent since 1997.
