Buriram Expats
Buriram Province - General Category => Real Estate, housing, house and land ownership => Topic started by: Admin on December 22, 2009, 03:21:55 PM
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Thai FM pushes for new land tax reform
Bangkok Post: 22 Dec 2009
Korn continues push for land tax reform
The Finance Ministry will push for cabinet approval of a new land and buildings tax in early 2010, says Finance Minister Korn Chatikavanij.
The new tax would impose an annual charge on land assets and property nationwide, with local administrations given flexibility in setting rates, based on their community development priorities. Rates would vary depending on the use of the property, whether it be for agriculture, commerce or residential use.
Currently 90% of tax revenue comes from income taxes, with only 10% assessed on assets.
The ministry believes the new tax will help expand the tax base and also improve social justice.
www.bangkokpost.com/business/economics/29740/korn-continues-push-for-land-tax-reform (http://www.bangkokpost.com/business/economics/29740/korn-continues-push-for-land-tax-reform)