Thailand's standard VAT rate is 10%. However, it has been reduced to 7%. The return to the 10% rate has been postponed every year since 1997. The 7% includes local tax; the rate excluding local tax is 6.3%.
Exchange rates are updated from the European Central Bank every day at approximately 16:00 CET. If you select a day in the calculator on which no new rate data has been published (such as Saturday or Sunday), the previous rate and its date will be loaded into the calculator. Euro conversions come directly from the ECB. Conversions between other currencies are cross rates derived from ECB rates.
By default, this calculator only uses the European Central Bank's rates. If you need to use a different rate, you can set it under 'or your own rate'.
By selecting the 'Taxation country' option for either 'From currency' or 'To currency', you determine which currency the VAT is calculated in. This can affect how the figures are rounded.