Connect with us

Phuket

Land tax could spur the economy

Legacy Phuket Gazette

Published

 on 

Land tax could spur the economy | Thaiger

BANGKOK: A respected economist has backed a proposal that the government impose a land tax, saying the move will ease concentration of land ownership in the hands of a few rich people and open more land to agriculture.

Speaking at a round table conducted by Krungthep Thurakij  newspaper last week, economist Duangmanee Laovakul said the faculty’s Economic Research and Training Center had calculated the move would generate between 43.39 billion and 2.6 trillion baht per year, depending on the tax rate used.

The proposal was a good one because it would become a tool with which the government could distribute land away from landlords toward other sectors of the economy, said Ms Duangmanee, vice-dean of the Thammasat University’s Faculty of Economics.

For instance, research has discovered that one landowner in Bangkok holds land totaling more than 2,036 rai.

Ms Duangmanee said that if the government announced a land tax and effectively collected the tax, it would increase the cost of holding land and could become a tool for easing the concentration of land in just a few hands.

If the government succeeds in taxing 100% of the total land value, it will collect between 86.78 billion and t2.6 trillion baht, depending on a tax rate from 0.01% to 0.3%, she said.

If the government taxes only 50% of all land value, it will collect between 43.39 billion and 1.3 trillion baht using the same range of tax rates.

Although it will be difficult to launch land tax laws, this tax will promote fairness and prevent the rich from dominating land-resource use,” she said.

Boon Jung, a representative of a Bantad mountain community in Trang, said his community supported the government in launching land tax legislation because it would help farmers to gain more land for their crops. At present, most land across the country is owned by landlords who hardly use it, he said.

If the government introduces a land tax, this will increase the cost of holding land and could force landlords to make proper use of their land – or sell it to reduce their tax burden.

Here in Phuket, the reception for a land tax is likely to be somewhat less enthusiastic than that of Ms Duangmanee and Mr Boon because of the damage it would do to the island’s property industry and, quite possibly, tourism, the latter often requirng large tracts of land for creation of tourist attractions such as resorts, horseback riding stables, golf courses, sports and other recreational facilities for children, etc.

— Nation & Phuket Gazette Reporters

 

Get more from The Thaiger

📱 Download our app on Android or iOS
👋 Have your say on our Thailand forums
🔔 Subscribe to our daily email newsletter
📺 Subscribe / Join YouTube for daily shows
👍 Like/Follow us on Facebook
🐦 FOLLOW us on Twitter
📷 FOLLOW us on Instagram

image

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Archiving articles from the Phuket Gazette circa 1998 - 2017. View the Phuket Gazette online archive and Digital Gazette PDF Prints.

Follow Thaiger by email:

Guides24 mins ago

The complete guide for the most unique experiences in Phuket

Thailand39 mins ago

Army provides food for the Rawai Sea gypsy community

Phuket49 mins ago

Phuket Covid-19 passes 60 deaths, 100 Sandboxers, 9,000 total cases

Welcome back to Thailand!

Thaiger is getting behind local businesses for the restart of tourism in Thailand - up to 50% discounts across all advertising packages!

Phuket54 mins ago

Governor announces restrictions on Phuket Vegetarian Festival

Thailand1 hour ago

GMT | OnlyFans creators arrested; another possible reopening delay | Episode 94

Crime1 hour ago

Former deputy attorney-general to be investigated over serious wrongdoings in Red Bull hit-and-run case

image
Join the conversation on the Thaiger Talk forums today!
World2 hours ago

Melbourne hit by 6.0 magnitude quake, tremors across south-east Australia

Thailand2 hours ago

Esports officially recognised as professional sport, new opportunities follow

Thailand2 hours ago

5 provinces may delay reopening until November, Chiang Mai cautious

World2 hours ago

Amnesty says vaccine makers putting profits before lives amid global inequity

Economy3 hours ago

Industry body says Thai government must borrow another 1 trillion baht

Coronavirus (Covid-19)3 hours ago

Wednesday Covid Update: 141 deaths and 11,252 new cases

News3 hours ago

FDA passes on using Sinopharm vaccine for children over 3 years old

Pattaya3 hours ago

October Pattaya reopening on schedule according to mayor

Coronavirus (Covid-19)3 hours ago

Communicable disease law may be amended to replace emergency decree

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14 | Thaiger
Thailand1 week ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand7 months ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism7 months ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket7 months ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism7 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand7 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism7 months ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand8 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand8 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand8 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand8 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand8 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand8 months ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand8 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand8 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending