A tax-structure expert yesterday predicted the proposed property tax would get stuck, due partly to the slow progress of land appraisal in the Kingdom. By some estimates, the new tax would raise as much as Bt90 billion annually for local governments nationwide, against only Bt18 billion collected by them now.
Lavaron Sangsnit, a senior expert on tax-system development for the Finance Ministry's Fiscal Policy Office, said a draft of the new tax had already been submitted to Finance Minister Korn Chatikavanij, who might forward it to the Cabinet for approval next month.It is proposed that the property tax should replace two existing tax measures: the land and building tax and the land-development tax.
By some estimates, the new tax would raise as much as Bt90 billion annually for local governments nationwide, against only Bt18 billion collected by them now.Lavaron said even though the draft bill could be passed into law by Parliament next year, its implementation might be delayed for many years, because the Treasury Department had not obtained the funds to proceed with land appraisal, plot by plot, of the 30.6 million land plots around the Kingdom.
Bangkok 7th World Most connected city to China
Bangkok also ranks 3rd in terms of the volume of Chinese corporate leasing activity over the last three years, according to a new report from real estate consulting firm JLL.
While China’s biggest corporates are increasingly flexing their global muscle as the country’s economic and geopolitical influence accelerates, Bangkok is the 10th most popular destination for mainland firms expanding overseas. (more…)
Thailand’s Special Economic Zones (SEZ) and new opportunity connected
The SEZ policy was first launched in 2015 based on the government’s belief in the strong potential of the 10 areas to connect with the neighboring countries in terms of trade, economy and investment
With its strategic location in the center of ASEAN with emerging markets, including Cambodia, Laos, Myanmar, Malaysia and southern China, on its border, Thailand is well position to connect investors to new opportunities arising from the increasing border trade and the region’s rapid economic growth.
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