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Land and building tax should be enforced this year in Thailand

Boris Sullivan

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The long-awaited land and building tax has been tabled and should be enforced this year as the Thai economy is now on the path to recovery from the global recession, says Prime Minister Abhisit Vejjajiva.

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Introducing the so-called asset tax is a key economic policy for the second year of the Democrat-led administration, along with restructuring agricultural debt and implementing the Thai Khem Khaeng scheme to cut logistics costs and strengthen the country’s competitiveness, said the premier.

The draft of the law is set to be proposed to the cabinet for consideration in the first quarter, said Finance Minister Korn Chatikavanij.

“It's my intention to get the asset tax done this year,” Mr Abhisit told the annual dinner of the Foreign Correspondents' Club of Thailand.

Land and building tax should be enforced this year in Thailand

The tax, aimed at promoting more efficient use of property, will impose an annual charge on land assets and property nationwide, with local administrations being given flexibility in setting rates, based on their communities' development priorities.”It [the tax] is not a popular thing to do in political aspects – like increasing taxes on alcohol and cigarettes last year, which we did because it is the right thing to do,” he said.

Together with tackling economic issues, the government will do its best to end the instability in politics and reduce political divisions among Thais, he said.

via Land tax due this year.

National

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In December 1999, the United Nations designated Nov 25 as the International Day for the Elimination of Violence Against Women, to commemorate the murder of the Mirabal sisters, the three Dominican political activists who opposed the dictatorship of Rafael Trujillo in 1960.

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Banking

Thai cabinet approves 350 billion baht Aid for COVID-hit Businesses

Thailand unveiled new measures to help small and medium COVID-hit businesses in the tourism industry hit by a liquidity crunch.

Olivier Languepin

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The Thai cabinet has approved assistance worth 350 billion baht($11 Billion) to help businesses affected by COVID-19 with soft loans and asset warehousing.

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Markets

Thai Mango growers complain of low prices and fewer exports

Because of the global COVID-19 pandemic, their mangoes are not being exported, due to fewer buyers, and their prices have plunged to between 10 and 20 baht per kilogram, depending on size.

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Mango orchard owners in Thailand’s northern province of Phitsanuloke are seeking help from the provincial administration to promote the sale of their sweet fruit, particularly Barracuda Mango variety.

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