New land appraisal price delayed for another year

[webfact]

New land appraisal price delayed for another year

By The Nation

 

 

The Finance Ministry has delayed the new land appraisal price base for another year, said Treasury Department director general Yuttana Yimgarund on Wednesday.

 

The ministry's permanent secretary signed the order to suspend the 2020-2023 price base in late December, said Yuttana. This means the department will adopt the 2016-2019 land appraisal price this year.

 

The 2020-2023 benchmark was originally slated to take effect in January 2020, before the Covic-19 pandemic hit the economy.

 

Meanwhile, the department’s deputy director general Wilawan Veerakun said that the government is expected to extend the reduction of land and construction tax for landowners for another year, but might adjust the size of the cut.

 

Last year, the tax was cut by 90 per cent.

 

Source: https://www.nationthailand.com/business/30400789

 

 

-- © Copyright The Nation Thailand 2021-01-07

 

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[Srikcir]

The new LBT Act was passed in November 2018 to commence January 1, 2020. It was designed to "decrease income disparity, improve and encourage land use, increase efficiency, and increase public revenue."

htpps://globalcompliancenews.com/new-property-tax-thailand-20181129/

 

Now delayed by delayed by order of the Minister of Finance because of the covid pandemic? 

How can a law that has a legislated start date be overruled simply by the Executive branch instead of an amendment by the Parliament? So much for the rule of law and any debate in deferring the law?

And what exactly is the connection between the pandemic and implementation of the law, already deferred by Parliament for another year (2019 vs 2020)?