(Bangkok Post file photo)Thai authorities are mulling stringent tax measures to pressure creditors to negotiate with their debtors in over 1,200 farmland-linked debt cases in the Northeast. The highlight was finding an instrument to ease farmers' debt as the 1,200-plus cases now amount to 278 million baht, officials said. Creditors have reportedly been profiteering by charging exorbitant interest rates and then seizing farmers' land when they cannot meet their repayments. One problem is farmers' lack of knowledge when it comes to legally binding contracts concerning debt, land and collateral, he said. Authorities said they hope these measures will result in the 1,200-plus cases being resolved or at least significantly lowered within three months.

Source: Bangkok Post November 14, 2017 21:45 UTC