Tax system revamp on the way, says Uttama

By THE NATION

 

Uttama

 

The Finance Ministry plans to establish a committee to determine how to restructure the taxation system.

 

Minister Uttama Savanayana said on Monday (August 26) the planned revamp would sharpen Thailand’s global competitive edge and ensure fair assessment for all citizens and private firms.

 

Committee members will be representatives of the three tax-collection departments and the Fiscal Policy Office, with Prasong Poontaneat, the ministry’s permanent secretary, as chairman.

 

It will meet for the first time on Friday, Uttama said.

 

The tax system overhaul would include both reductions and hikes, he said, as well as an expansion of the collection base.

 

Revenue Department director-general Ekniti Nitithanprapas meanwhile said his agency would push the House of Representatives to vet an e-business bill this month with an eye to having the law take effect next year. 

 

The department collected Bt1.59 trillion in taxes in the first 10 months of the fiscal year beginning last October 1. The figure exceeded the original estimate by Bt48.44 billion and was Bt3.1 billion more than collected in the same period last year. 

 

“We expect to achieve Bt2 trillion in tax revenues by the end of this fiscal year,” he said.

 

Source: https://www.nationthailand.com/business/30375389

 

-- © Copyright The Nation Thailand 2019-08-27

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certainly need more funds going in the trough as Buck Bananas silk shirts and the fat generals expensive watch collection have left the trough pretty empty .

2 hours ago, webfact said:

The tax system overhaul would include both reductions and hikes, he said, as well as an expansion of the collection base.

Most likely reductions for the wealthy and hikes and and expanded collection bases for others.

What about a wealth, a capital property tax and an inheritance tax above a certain level? Or might that be too radical and cause some wealth distribution from the greedy to the needy.

less tax for the super rich and some tax for the poor

 

this is for the whole world

All taxes are theft !
Nobody wants to pay them so why do all Governments think they have the right to collect them ?

... if you don't pay, they send the guys with guns - that's exactly what criminals do !!!

Is it different when the "Government" does it ??? And if so - why ?
 

They already began, they begin to tax dividend paying LT-funds with 10 percent withholding tax on dividends, started 20th August (2019)...????

 

Title: Tax system revamp on the way
Subheader: plans to establish a committee to determine how to

 

So it is already on the way, and only then they are going to see HOW they gonna change it?

On ‎8‎/‎27‎/‎2019 at 5:38 AM, Cadbury said:

Most likely reductions for the wealthy and hikes and and expanded collection bases for others.

What about a wealth, a capital property tax and an inheritance tax above a certain level? Or might that be too radical and cause some wealth distribution from the greedy to the needy.

Throw in a tax on farang bringing in money from overseas for whatever reason too? Or is tax only good when it happens to someone else?

Why should people who may have worked (or their parents or grandparents) hard be penalised more than anyone else. Sure fire way to bring everyone down to the lowest common denominator. Look at the middle class working poor in many western countries.

Left wing nonsense in my opinion.

Work hard and reap/keep the rewards.

 

 

24 minutes ago, emptypockets said:

Throw in a tax on farang bringing in money from overseas for whatever reason too? Or is tax only good when it happens to someone else?

Why should people who may have worked (or their parents or grandparents) hard be penalised more than anyone else. Sure fire way to bring everyone down to the lowest common denominator. Look at the middle class working poor in many western countries.

Left wing nonsense in my opinion.

Work hard and reap/keep the rewards.

 

 

But But it ain't fair that you or your family worked hard and have money and I sat on my ass and now I'm broke lol ????

How about a tax on any savings in the bank of over 800k maybe?

On 8/27/2019 at 3:13 AM, webfact said:

as well as an expansion of the collection base.

If this resulted in the levy of income tax from any income earned abroad, for whatever year it has been earned, it would seal my decision to move to Malaysia.

1 hour ago, KiChakayan said:

If this resulted in the levy of income tax from any income earned abroad, for whatever year it has been earned, it would seal my decision to move to Malaysia.

Hopefully they would have a tax agreement with other countries so if you already paid taxes you wouldn't be taxed again except for interest earned here