VAT frozen at 7%

The cabinet decided on Tuesday to keep value-added-tax (VAT)at seven per cent for the next two years, deferring the Finance Ministry’s proposed hike to nine per cent, and approved a four-point rehabilitation plan proposed by the National Economic and Social Development Board.

I’m happy to see this happen for selfish reasons, in that the price of my basic goods don’t go up!¬†Ultimately¬†stock market strategists will come out in droves and say that this is positive for consumer good related stocks (MAKRO, BIGC) but I’ll just be happy that the price of my mama noodles don’t go up :)

Source: Bangkok Post

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