The private sector has warned the much-awaited land and buildings tax will affect the economy, imposing a new 50-100 billion baht tax burden. The high ceiling on tax rates would affect investments, the private sector warned. The private sector proposed that a working group comprising representatives from the private sector be set up to provide input on the tax bill. Mr Pornphet said he would forward the suggestions to the NLA’s standing committee on the land and buildings tax legislation. The new property tax will replace the outdated house and land tax and the local development tax.

Source: Bangkok Post May 24, 2018 07:30 UTC