The review comes after opinions were expressed at public hearings that residences and financial institutions' NPAs sold at a loss should not be liable for the land windfall tax, according to an FPO document. The document was a result of two public hearings on the land windfall tax earlier this year. According to the draft bill on the land windfall tax, those liable for the tax must own land within a radius of 2.5 kilometres of a station serving high-speed, double-track or electric trains, or the on- or off-ramp of an expressway. But a one-time tax would be applied to cases where land ownership is transferred after a transport infrastructure project starts. Owners of land near infrastructure projects launched before the law governing land windfall tax takes effect would be exempt from the new tax.

Source: Bangkok Post November 15, 2017 00:11 UTC