- TDRI proposes a gradual increase in VAT by 1% at a time until it reaches 10% over 5 years to avoid inflation expectations
- TDRI suggests not using a flat rate for personal income tax as it does not reduce income inequality and recommends reconsidering tax relief measures that benefit high-income groups
- TDRI recommends reducing corporate income tax from 20% to 15% in line with the Global Minimum Tax and suggests abolishing BOI privileges to attract investments equally across all industries
- TDRI emphasizes the importance of imposing taxes on property bases such as capital gains and windfall taxes to ensure significant revenue sources are not overlooked
- Overall, TDRI stresses the need for a comprehensive review and adjustment of tax policies to increase Thailand’s low tax revenue effectively
Source: bangkokbiznews.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
