US Charges Leaders of White Supremacist Group for Plotting Global Attacks via Telegram

[george]

Draft of Land and Building Act ready for Cabinet in a fortnight

BANGKOK: -- THE FINANCE Ministry will within a fortnight submit for Cabinet consideration the draft of the Land and Building Act, said Finance Minister Sommai Phasee.

Sommai said that he had mulled over waiving land and building tax for land and buildings with a combined estimated value not exceeding Bt2 million.

The Fiscal Policy Office proposed in the draft that property owners with an appraised property value of no more than Bt2 million might be given a 50-per-cent excemption but it must not exceed Bt1 million. 0This is aimed to easing the tax burden on low-income earners.

For property developers buying land, the ministry will consider waiving the tax for a maximum of three years pending a project's development.

Under the bill, land for agricultural purposes will be subject to a maximum 0.5 per cent tax, residential property 1 per cent, commercial property 4 per cent, and idle land no more than 4 per cent.

The law is expected to come into effect in 2017, making the existing House and Building Tax and Local Development Tax Act redundant.

-- The Nation 2015-02-15

[noitom]

What a sad sack of Thai news items on this site in the last few weeks. It was never good when they had 10-12 lead stories, but now they have five of the most nonsensical ever seen There must be a lapse of even Thai editorial standards. These stories day in and day out are a waste of time.

[jcisco]

This one is kinda important as it introduces land tax a key issue to many here. Ideally it will increase land productivity and utilisation and reduce speculative holdings and bring prices A tiny little mediator.

I don't really disagree with u though notion.

[Stradavarius37]

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What a sad sack of Thai news items on this site in the last few weeks. It was never good when they had 10-12 lead stories, but now they have five of the most nonsensical ever seen There must be a lapse of even Thai editorial standards. These stories day in and day out are a waste of time.

Wha? How is this story nonsensical? This is one of the most needed bills for land development. Are you stoned? Its puff puff GIVE, puff puff GIVE. Don't keep that pipe all for yourself....

[wolfmanjack]

primary residence should be exempt.

There are too many cases in the USA where retired people are forced to sell because the valuations increased and their income decreased.

[dekinw]

primary residence should be exempt.

[trogers]

primary residence should be exempt.

There are too many cases in the USA where retired people are forced to sell because the valuations increased and their income decreased.

Retired and size down. Release funds for old age.

[binjalin]

What a sad sack of Thai news items on this site in the last few weeks. It was never good when they had 10-12 lead stories, but now they have five of the most nonsensical ever seen There must be a lapse of even Thai editorial standards. These stories day in and day out are a waste of time.

yes but most of that is because BP won't allow links or posts and BP is, by a VAST margin, the best newspaper and news source in Thailand

[wolfmanjack]

primary residence should be exempt.

There are too many cases in the USA where retired people are forced to sell because the valuations increased and their income decreased.

Retired and size down. Release funds for old age.

In many cases that would mean leaving the place that they have lived most of their life and where their kids were born and raised, or husband / wife passed away etc.

I don't think it is fair.

[trogers]

primary residence should be exempt.

There are too many cases in the USA where retired people are forced to sell because the valuations increased and their income decreased.

Retired and size down. Release funds for old age.

In many cases that would mean leaving the place that they have lived most of their life and where their kids were born and raised, or husband / wife passed away etc.

I don't think it is fair.

I always imagine a mansion used by 3 generations, with a dozen bedrooms, and occupied by one old man, lamenting he cannot afford to keep the place.

[jcisco]

What a sad sack of Thai news items on this site in the last few weeks. It was never good when they had 10-12 lead stories, but now they have five of the most nonsensical ever seen There must be a lapse of even Thai editorial standards. These stories day in and day out are a waste of time.

yes but most of that is because BP won't allow links or posts and BP is, by a VAST margin, the best newspaper and news source in Thailand

Funny that, there terms of service permit everything you just said they don't... Go figure. other sites don't seem to have much difficulty linking to them, or quoting them. Must be a TV BP BS thing. meh

[Langsuan Man]

Funny that all the pundits are saying that primary residence should be tax exempt

How can anything be a primary residence in this country if you are not allowed to own the land that your "residence" sits on ?

[cooked]

1% tax on residential properties? That's ฿30 000 on a ฿3 000 000 property.

I still don't understand if this is to be a yearly tax, a tax to be paid on sale, to be paid on buying or a one time tax for all owners. I agree that what is potentially an important law is very shoddily reported on.

For property developers buying land, the ministry will consider waiving the tax for a maximum of three years pending a project's development. This sounds like a license to earn money for property developers to me, most of them are buying up land as cheaply as possible and selling it as quickly and expensively as possible.

And finally: Under the bill, land for agricultural purposes will be subject to a maximum 0.5 per cent tax. Rice land around here (Buriram) has become outrageously expensive over the last two years, way above it's agricultural value. Many peasants will be really strapped to pay this tax on land that is at best giving them a subsistence income. Some one harvest rice land here is going for ฿100 000.- probably more. If this land is valued at that price my son in law will be faced with many thousands of Bahts which he simply won't have.

Plenty of land around here is being bought up or 'stolen' by money lenders and I suspect that the government is trying by hook or by crook to make agriculture more efficient.

[trogers]

Funny that all the pundits are saying that primary residence should be tax exempt

How can anything be a primary residence in this country if you are not allowed to own the land that your "residence" sits on ?

Then whose name is on the title deed? The owner is the home owner and is the one liable for property tax.

And this fact showed that you do not own any property, nor liable for the tax, even if you came out with the money.

You are just a lessee.

Edited February 18, 2015 by trogers

[trogers]

1% tax on residential properties? That's ฿30 000 on a ฿3 000 000 property.

I still don't understand if this is to be a yearly tax, a tax to be paid on sale, to be paid on buying or a one time tax for all owners. I agree that what is potentially an important law is very shoddily reported on.

For property developers buying land, the ministry will consider waiving the tax for a maximum of three years pending a project's development. This sounds like a license to earn money for property developers to me, most of them are buying up land as cheaply as possible and selling it as quickly and expensively as possible.

And finally: Under the bill, land for agricultural purposes will be subject to a maximum 0.5 per cent tax. Rice land around here (Buriram) has become outrageously expensive over the last two years, way above it's agricultural value. Many peasants will be really strapped to pay this tax on land that is at best giving them a subsistence income. Some one harvest rice land here is going for ฿100 000.- probably more. If this land is valued at that price my son in law will be faced with many thousands of Bahts which he simply won't have.

Plenty of land around here is being bought up or 'stolen' by money lenders and I suspect that the government is trying by hook or by crook to make agriculture more efficient.

Yearly tax. Not one off or during sales.

[jaidam]

Land tax, punishing the rich and rewarding the impoverished. In principal a good idea in a society with such extremes of wealth. Only surprise here is that shouldn't it have been the Robin Hood party that did this rather than the so called elites? The Shinawatras I mean. They were grassroots paupers that made good through honest and diligent work and really really cared about the poor, I wonder why they didn't go down the land tax avenue.

Perhaps some of their acolytes can expand on this?

[trogers]

Land tax, punishing the rich and rewarding the impoverished. In principal a good idea in a society with such extremes of wealth. Only surprise here is that shouldn't it have been the Robin Hood party that did this rather than the so called elites? The Shinawatras I mean. They were grassroots paupers that made good through honest and diligent work and really really cared about the poor, I wonder why they didn't go down the land tax avenue.

Perhaps some of their acolytes can expand on this?

Just ask yourself how much land and properties the Shins hold. What past efforts did they go through to evade taxes? And not Thaksin alone.

Robin Hood? They only believe in using money of others to buy power, and not their own money.