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    Timing for zero-rated VAT comes under challenge

    Business, Lawalliance Limited Company, Published on 11/02/2014

    » One of the key rationales for Thailand in abolishing the business tax in 1992 was that zero-rated value-added tax (VAT) granted to exporters of goods under the VAT regime is commonly accepted by developed countries. It is applied in compliance with international standards and cannot be deemed an unfair subsidy – hence reducing the chance that Thai exporters could face countervailing duties in retaliation. For this reason, Section 80/1(1) of the applicable law simply states:

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