Connect with us


NEWS Hound: New property tax moots exemptions for Phuket



NEWS Hound: New property tax moots exemptions for Phuket | Thaiger
Phuket NEWS Hound

– A daily, pocket-sized packet of news from around the world, compiled by Phuket Gazette reporters for foreigners who want it short, sharp and straight to the point.

PHUKET: The Fiscal Policy Office has completed drafting a new Land and Building Tax Law which requires owners of non-commercial land and buildings to pay tax of no more than 0.1% of its ‘tax-based value’. Agricultural property would face a tax up to 0.05% and others up to 0.5%.

According to a report in the Bangkok Post, the draft proposes many exemptions – for example, for residential buildings on 50 square wah or less and worth less than one million baht in key areas including Bangkok, Phuket and Pattaya. Residential buildings worth less than 500,000 baht in municipal areas, and those worth less than 300,000 baht in tambon administration areas, would also be exempt.

But the new law should not have exemptions as it could result in unequal tax collection and fraud, says the Bangkok-based private-sector property consultant Agency for Real Estate Affairs (AREA).

Tourists canceling Thailand trips

Bangkok Post
The tourism industry has lost more than a billion baht in bookings because of cancelations ahead of this weekend’s anti-government rally, Association of Thai Travel Agents (ATTA) chairman Aphichart Sangka-aree says. He called on the red-shirts to rally peacefully and refrain from laying siege to any state offices as it would derail the recovering economy.

Business operators are worried that the use of the Internal Security Act in Bangkok and nearby provinces during the rallies would cost them dearly in lost clients. At least 31 countries have advised their citizens to avoid traveling to areas in Thailand where the demonstrations take place, and more countries are likely to follow suit.

Phuket is unlikely to be affected directly by the protests as there are no known plans for any anti-government activities in the island province, located about 1,000 kilometers from Bangkok and long a stronghold of support for the Democrats.

Thailand still negotiating over patented drugs

A senior Thai official voiced hope on Monday for a World Trade Organization (WTO) solution on the production of low-cost generic drugs, an issue that has stirred friction with Western companies. The government suspended patent protections for expensive cutting-edge treatments for AIDS, cancer and heart disease in 2006, giving Thais access to cheap copycat versions.

Activists against AIDS and poverty hailed Thailand as a global leader, but the Kingdom has faced heavy pressure and threats of legal action from Western pharmaceutical firms.

Trade Representative Kiat Sittheeamorn told the American Chamber of Commerce in Thailand that the government was in talks with all sides and hoped for an eventual solution under the WTO.

Thailand waits to raise interest rates

Business Week
Thailand’s central bank may keep its benchmark interest rate at a five-year low as political tensions threaten an economic recovery and prevent it from following neighboring Malaysia in raising borrowing costs. Political unrest will hurt an economy that emerged from a recession last quarter, says Sutapa Amornvivat, executive vice president at TMB Bank in Bangkok. “The central bank will be cautious in policy tightening because the economic recovery has just started. They’ll probably wait for a firmer pace of recovery and also a more stable political situation.”

Inflation is not yet a concern in Thailand and pressure to adjust the policy rate remains low.

— Gazette Editors


Get more from The Thaiger

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:

Thailand14 hours ago

Unhinged gunman fires 18 shots into school because kids were too noisy

Thailand14 hours ago

Thailand News Today | Raid finds all monks on drugs in Phetchabun temple

World15 hours ago

Iran threatens footballers’ families with prison and torture, security source says

Sponsored23 hours ago

Challenges of starting a business in Thailand as a foreigner

Thailand15 hours ago

Angry Thai man condemns foreigner for not wearing a mask on BTS

Thailand16 hours ago

Thai man commits suicide due to mass govt corruption

Crime17 hours ago

Pattaya loan sharks allegedly abduct and assault young woman

Join the conversation on the Thaiger Talk forums today!
Property News17 hours ago

Nana Overview Guide in 2023

Tourism18 hours ago

Phuket sees over 50,000 Russian tourists in past month

Thailand18 hours ago

Hapless Bangkok gold thief gets caught at a bus stop

Lifestyle18 hours ago

Stop and smell the tulips at Floral Fair 2022 in Bangkok

Thailand19 hours ago

Police seize board game after claims it could cause insurrection in Thailand

World20 hours ago

Mauna Loa, world’s largest volcano, erupts for the first time in 40 years

Tourism20 hours ago

Thailand tourism may see a decline next year

Thailand21 hours ago

Thai govt to crackdown on cybercrime & handout free laptops to poor kids

Drugs21 hours ago

Hundreds of thousands of meth pills seized in Songkhla

Thailand1 year ago

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

Thailand2 years ago

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

Tourism2 years ago

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

Phuket2 years ago

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

Tourism2 years ago

Phuket Thai food treats you need to try | VIDEO

Thailand2 years ago

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

Tourism2 years ago

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

Thailand2 years ago

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

Thailand2 years ago

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

Thailand2 years ago

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

Thailand2 years ago

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

Thailand2 years ago

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

Thailand2 years ago

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

Thailand2 years ago

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

Thailand2 years ago

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