Property Taxes To Be Modified

Property Taxes To Be Modified

In early March 2015, the Thai government will discuss new reforms on Thai land & property taxes.

In fact, changes will concern existing customs and excise tax regulations as well as collection of inheritance tax and land and property taxes.

Ministry of Finance Permanent Secretary Rangsan Sriworasat is confident Thailand will reach 4% in economic growth this year as a result of current government’s stimulus plans to boost the Kingdom’s economy. According to him, the 4% forecast will be attained thanks to an increase in value-added tax collected due to higher public consumption and rise in investments.

In order to effectively boost the economic development, the Thai government will emphasize on development of infrastructure, establishment of special economic zones and issuance of tax and non-tax incentives for investors and small and medium-sized enterprises.