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Thailand approves cuts on property tax, fees to ease virus impact

 

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BANGKOK, Jan 26 (Reuters) - Thailand’s cabinet on Tuesday approved a cut on property tax and other fees for this year, foregoing revenue of about 41 billion baht ($1.37 billion) to help ease the impacts of its latest coronavirus outbreak.

 

The tax on land and buildings was cut by 90% while some registration and transfer fees were reduced to 0.01% from 1-2%, government spokesman Anucha Burapachaisri told a briefing.

 

“The cuts are appropriate for the current economic situation,” he said.

 

The tourism-reliant economy is expected to recover slowly this year due to the new outbreak, its biggest yet, which has spread to most of the country’s provinces.

 

Although Thailand’s infection numbers are relatively low, it has been hit by the global impacts of the pandemic.

 

Southeast Asia’s second-largest economy could grow a less than expected 3-4% this year after contracting 6% in 2020, the deepest in over two decades, Arkhom Termpittayapaisit told Reuters last week.

 

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-- © Copyright Reuters 2021-01-26
 
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You would think this should not apply for those properties over a certain value or owners over a certain income level.    Not for 2nd properties. I hear taxes in isaan are miniscule as it is.   This will have little effect for the ones who are hungry.   

Should be raising tax for the rich and supporting the poor at this time. And retraining those  workers who's tourists jobs will never come back.   Hauling off sillage so burning us reduced.  Hire people to report farmers burning.  Give rewards only for convictions. 

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There's also an appraised value cut off (something like anything over 3 million and it's the standard tax rate... so unless you're buying a studio condo outside of town...) so it's certainly not a pure break for the "wealthy" (we seriously need a Republican Party here).

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