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Thai Cabinet to discuss land and empty building taxes

Boris Sullivan

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Thai contruction workers Chitlom

In a bid to prevent speculation on land and to increase tax revenue for the government, the Cabinet on Tuesday will discuss its plan to collect taxes on empty land and buildings, Finance Minister Korn Chatikavanij said Friday.

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Thailand’s Ministry of Finance earlier conducted studies and gathered opinions from several sectors  before opting to proceed with collecting taxes, Mr Korn said.

If implemented the land tax will help promote justice in society, as taxes collected by the government presently come from personal income, value-added tax and corporate taxes while tax collection from property is still minimal.

via Thai Cabinet to discuss land and building taxes.

Property

Is There a Silver lining amid COVID-19?

Thinking of the future impact of this pandemic on office buildings, it may have already dawned on many of us that a majority of potential long-term trends and health measures will become permanent work-life features in the times to come.

Daniel Lorenzzo

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A direct result of COVID-19 containment measures is that organisations are taking a real-time look at the effects of prolonged off-site work and its relation to productivity.

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Property

The time is ripe to embrace Industry 4.0

Traditional brick-and-mortar retail has suffered tremendously, as countries have been implementing effective stay-at-home and social distancing policies to mitigate virus spread, while those worst hit have enacted strict draconian lockdowns

Daniel Lorenzzo

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We have entered a time where, seemingly, interconnectedness is the new enemy, staying in is the new going out, and antisocial is the new social. COVID-19 has brought us on the cusp of growing accustomed to new norms and sounded a wake-up call in terms of how we live.

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Corporate

Covid-19 puts flexible space markets under strain

In the wake of operator defaults, landlords will be forced to re-evaluate the role of flexible space in their portfolios.

Daniel Lorenzzo

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The global Covid-19 outbreak has had serious negative effects on commercial real estate, including flexible space. Of late, many operators have experienced the flexible nature of the business working against them, as many occupiers have opted to surrender desks and implement work-from-home plans.

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