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PROPERTY TAX UPDATE Thai Cabinet Moves Bill Forward

Category: Real estate, Posted:07 May 2010 | 06:00 am

Taking the initiative despite current unrest amongst factions, the Thai Cabinet has given its broad approval to the Finance Ministry's draft but asked that public hearing be held. Two issues at the core which remain highly charged are those of rates for tax and exemptions.
Moving forward back of the hearings will be a review by the Council of State on legal implications and then the law needs to go before Parliament. While the timeline remains a moving target its widely expected that the process remains long meaning 1-2 years for the final law to go into place and then another 1-2 years to see it implemented hence this remains a long term objective.
Fueling the urgency of the bill is the Government's position that the new tax would provide needed revenue to assist those below the poverty line and narrow the gap between the nations rich and poor.

Other News

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Direct International Flight For Koh Samui Coming

Category: Tourism, Posted:27 Jul 2021 | 11:29 am Koh Samui is set for the resumption of international flights from Singapore on the 1st of August. Under the Samui Plus program and expecting increased demand, Bangkok Airways is taking this first step for the direct overseas service. The initial stage is three flights a week on Monday, Thursday and Sunday. Meanwhile in the Phuket […]
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Thailand Property Takes Urban Flight As Lifestyle Takes Over

Category: Real estate, Posted:26 Jul 2021 | 06:00 am Thailand’s resort real estate markets have experienced a dramatic reset in buyer profiles over the past eighteen months of the pandemic. A strong wave of domestic demand has seen Thais flocking to the country’s leisure destinations and snapping up holiday or second homes. According to new data released by Thai property portal FazWaz, the popular […]
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Just Another Sunday – Catch-Up

Category: Tourism, Posted:25 Jul 2021 | 15:08 pm It’s a great day to catch up on last week’s video sessions. Check out a replay of the special Business Insider Thailand Resort Property online event.  We also talk to a leading Thai developer on rewriting the map in Northwest Phuket, where a second resort-styled CBD is emerging and finally more on the ongoing Sandbox. […]