Yamin Krisada Nilsawai, Thai national men's volleyball player, warns that a 10% VAT would worsen the high cost of living! He fears Hainanese chicken rice prices could surge to 80-100 baht per plate.
On 14 Feb 2026 GMT+7, Yamin Krisada Nilsawai, Thai national men's volleyball player, commented on the Senate Finance Subcommittee's proposal to impose a major tax increase by raising VAT to 10%, taxing stocks, gold, and foreign travel, aiming to support welfare for retired Thai citizens.
Yamin stated, “Once VAT hits 10%, get ready for price hikes on everything. I’m already worried—special Hainanese chicken rice with boiled egg could cost 80-100 baht per dish.”
The VAT increase plan would raise the rate from 7% to 10%, increasing it gradually by 1% per year over three years. This is expected to generate an additional 200-300 billion baht annually for the government.
The extra 3% VAT revenue, estimated at 200-300 billion baht per year, would not be used for general spending. Instead, it would be allocated to individual taxpayers’ savings accounts, aiming for each person to save 400,000 baht, which would be invested in government bonds and used to increase elderly allowances to 3,000 baht per month from the current 600-1,000 baht.
Although the VAT increase could boost state revenue by 300 billion baht per year, it would immediately cause consumer goods prices to rise.