NoneAres management sells $28.7m in Frontier Communications stockPrime Minister Paetongtarn Shinawatra has joined a chorus of critics in expressing concern over the Finance Ministry's proposal to double the level of value-added tax (VAT) from the current rate of 7%. Asked for her thoughts on the proposed new rate of 15%, she said: "I understand [the plight of the people if VAT were to be raised]." She said Finance Minister Pichai Chunhavajira would release more details about the plan shortly. Mr Pichai said on Wednesday that the ministry is merely studying the possibility of raising the rate. "We are studying the global tax trend. We are looking at the potential benefits and drawbacks to ensure the best benefits for the public," said Mr Pichai, who also serves as a deputy prime minister. VAT, a major source of government revenue, has remained at 7% since 1992. Several administrations have suggested increasing it to 10%. Rather than giving a specific figure, Mr Pichai said public feedback must be sought first. "We need to gather opinions from various sectors because a VAT increase would have an impact on people," he said. Mr Pichai was elaborating on the remarks he made at the Sustainability Forum 2025 in Bangkok on Tuesday. At the forum, he also addressed global tax trends, noting the Organisation for Economic Co-operation and Development (OECD) introduced tax guidelines stating that everyone engaged in business should pay a 15% corporate income tax. He said Thailand should also comply and consider reducing it from the current 20%. Regarding personal income tax, Mr Pichai said there is fierce global competition to attract skilled workers. Many countries have cut their tax rates, but Thailand still collects 35%. However, he said that Thailand's personal income tax base remains low while its consumption tax base is quite high, requiring some adjustment. Thailand's VAT rate is 7%, with a ceiling of 10%. Globally, VAT rates range from 15-25%. "Consumption taxes are considered a sensitive issue. However, if we increase the rate in a reasonable and appropriate manner, it could serve as a tool to help low-income individuals. The gap between rich and poor would narrow because we would collect taxes based on the same base for everyone," said Mr Pichai. "If we set the rate low, it means everyone pays less, and the total revenue collected would be lower. If the rate is increased, wealthier individuals would pay more according to their spending, and the overall revenue would increase. This money could be used for measures to assist low-income people and for building infrastructure to enhance the country's competitiveness." He said the government must also consider increasing savings. As a society with an ageing population, even though Thailand has savings from social security and provident funds, these will deplete quickly once people retire. Lavaron Sangsnit, permanent secretary for finance, said overhauling the taxation structure would require a strong political will, and it is important to consider whether the economy has made enough of a recovery first. "Good timing is important," he said. People's Party deputy leader Sirikanya Tansakun posted comments on X opposing a VAT increase. "Is the 15% VAT increase too much? Those who will be hit hardest are salarymen and the middle class," she said. Thanakorn Wangboonkongchana, deputy leader of the United Thai Nation Party, also spoke out against the proposal, saying it would result in higher prices of goods and services. On Sept 17, the cabinet approved an extension of the 7% VAT reduction for another year, aiming to alleviate the impact of the rising cost of living and boost consumer spending. Government spokesman Jirayu Houngsub said the cabinet extended the reduction in the VAT rate of 6.3% (excluding local taxes) or 7% (including local taxes) till Sept 30, 2025. The extension aims to mitigate the impact of rising living costs, stimulate consumer spending and boost business confidence in the Thai economy, the spokesman said.
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VPD warns of ticket scams ahead of Taylor Swift concertsGreg Gumbel, a longtime CBS sportscaster, has died from cancer, according to a statement from family released by CBS on Friday. He was 78. “He leaves behind a legacy of love, inspiration and dedication to over 50 extraordinary years in the sports broadcast industry; and his iconic voice will never be forgotten,” his wife Marcy Gumbel and daughter Michelle Gumbel said in a statement. In March, Gumbel missed his first NCAA Tournament since 1997 due to what he said at the time were family health issues. Gumbel was the studio host for CBS since returning to the network from NBC in 1998. Gumbel signed an extension with CBS last year that allowed him to continue hosting college basketball while stepping back from NFL announcing duties. In 2001, he announced Super Bowl XXXV for CBS, becoming the first Black announcer in the U.S. to call play-by-play of a major sports championship. David Berson, president and CEO of CBS Sports, described Greg Gumbel as breaking barriers and setting standards for others during his years as a voice for fans in sports, including in the NFL and March Madness. “A tremendous broadcaster and gifted storyteller, Greg led one of the most remarkable and groundbreaking sports broadcasting careers of all time," said Berson. RELATED STORY | Richard Parsons, prominent executive who led Time Warner and Citigroup, dies at 76 Gumbel had two stints at CBS, leaving the network for NBC when it lost football in 1994 and returning when it regained the contract in 1998. He hosted CBS’ coverage of the 1992 and 1994 Winter Olympics and called Major League Baseball games during its four-year run broadcasting the national pastime. But it was football and basketball where he was best known and made his biggest impact. Gumbel hosted CBS’ NFL studio show, “The NFL Today” from 1990 to 1993 and again in 2004. He also called NFL games as the network’s lead play-by-play announcer from 1998 to 2003, including Super Bowl XXXV and XXXVIII. He returned to the NFL booth in 2005, leaving that role after the 2022 season.
Olympic dressage champion suspended after horse-whipping investigationAll is not well in the BJP government in Odisha. Prime Minister Narendra Modi's visit to the state has come at a time when the BJP state unit is hit by discord. The lack of coordination between the government and the organisation is another cause of worry for the party leadership.