5% VAT refund approved for Chinese New Year 

Economy December 18, 2018 18:23

By The Nation

3,942 Viewed

The Cabinet on Tuesday approved the Finance Ministry’s proposal of a 5-per-cent value-added tax refund for all shoppers during the Chinese New Year in February.



The government will give shoppers the 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.

The maximum purchase amount to be eligible for a VAT refund is Bt20,000 per shopper, meaning that the maximum refund will be worth Bt1,000.

All goods are covered, except for alcoholic drinks.