webfact Posted March 5, 2015 Share Posted March 5, 2015 Finance holds back land and house tax billBANGKOK: -- The Finance Ministry has held back its much criticised land and house taxes bill for more inquiries. Earlier the bill was scheduled to finalise this month the bill to be submitted to the cabinet for consideration.However the bill was held back after the ministry notified the legal affairs divisions of other relevant ministries, Interior and Justice, that it needed to consider the policy aspect of the bill so as to have clear direction to go ahead with the bill.A source in the ministry said the relevant officials wanted to know exactly if policy makers want the bill to narrow social gaps to fulfill the policy of Prime Minister Gen Prayut Chan-o-cha.But after the initial change of the existing law that will collect taxes from land and house separately, house for living is then subject to taxation. This resulted in another proposal to exempt tax for house which is priced less than one million baht.The source said the bill is expected to draw stronger opposition from the National Legislative Assembly than the inheritance bill.Finance Minister Sommai Phasiesrlier said that it was yet to be concluded the minimum value of a house which is to be taxed and the value of the house which will be exempted from taxation.It was proposed that a house plus a land plot on which the house is located which are worth not more than one million baht will n be taxed and the one which is worth between 1-2 million baht will be taxed half of the tax rate whereas the one which is worth more than three million baht will be taxed the full amount of the tax rate.Three tax rates have been proposed: 0.5 percent for land for farming and for residential purposes but in the initial period land for residential purpose will be taxed just 0.01 percent. The proposed tax rate for land for commercial purpose is 2 percent whereas the tax ceiling of unutilised land is 4 percent.As for unutilized land, the owners will be given three years to utilise the land, failing that they will be taxed at progressive rates.Finance permanent secretary Mr Rangsan Sriworasart said that Deputy Prime Minister Pridiyathorn Devakula had voiced his support for the idea of imposing taxes on land and houses.Source: http://englishnews.thaipbs.or.th/finance-holds-back-land-and-house-tax-bill -- Thai PBS 2015-03-05 Link to comment Share on other sites More sharing options...
Thai at Heart Posted March 5, 2015 Share Posted March 5, 2015 And where is the inheritance tax bill? Nowhere. All fanfare and no result Link to comment Share on other sites More sharing options...
trogers Posted March 5, 2015 Share Posted March 5, 2015 I suspect quite a few senior officials in Finance had bought condo units in the area around BTS Aree station. Link to comment Share on other sites More sharing options...
FangFerang Posted March 5, 2015 Share Posted March 5, 2015 They are holding the bill back until their friends have all put the land into shell holdings, proxy holders, and even outright forged deeds to avoid paying taxes. After ll, taxes are for the middle class, not the upper class....... 1 Link to comment Share on other sites More sharing options...
Daniel Ingalls Posted March 5, 2015 Share Posted March 5, 2015 This is stonewalling, come on minister ether your going to tax us to the point of obliteration, or population demise! In either event.......take the last baht I have laying in the crack of my.............. Link to comment Share on other sites More sharing options...
trogers Posted March 5, 2015 Share Posted March 5, 2015 This is stonewalling, come on minister ether your going to tax us to the point of obliteration, or population demise! In either event.......take the last baht I have laying in the crack of my.............. Thought that last baht was stolen last night ? 1 Link to comment Share on other sites More sharing options...
Daniel Ingalls Posted March 5, 2015 Share Posted March 5, 2015 I want to here from the nays!.........or all of your living in rental property? Link to comment Share on other sites More sharing options...
ColdSingha Posted March 5, 2015 Share Posted March 5, 2015 apparently massive blowback in the general population on social and traditional media according to my wife. the thais are not happy a "tax the rich" policy quickly morphed into a tax (nearly) everyone policy and rightly so 2 Link to comment Share on other sites More sharing options...
Daniel Ingalls Posted March 5, 2015 Share Posted March 5, 2015 I want to here from the nays!.........or all of your living in rental property? Thats whats wrong with not just Thailand, all countries! With a stroke of the pen, the lives of millions of people end up shelling out more money in taxes to these idiots that don't know how to cut spending on project that will not do a thing to help the people who put them into office. It is mind boggling, to think these people have no inkling as to the wellbeing of the society as a whole. Projects such as the Multi-Speed Rail system proposed by the PM to help the tourist Industry has nothing to do with the farmer trying to make a living growing rice. Has nothing to do with a young Thai family buying a house on a little piece of land which is shit by itself, to have a life of decency away from the trash and garbage in the Kong's of Bangkok. Shame on you Minister of land and Management. You may sit high and dry from the high waters of the monsoon rains.......coming soon. Think for a moment when your were just a kid. At our level. Stop this stupid projects for Tourism at the cost of the Thai people. "Ones home is sacred ground" Not to be taxed. Do not follow the Western ways of taxation. If you want to thrive.....tax the tourists that come here by the millions. Leave us alone! Build factories out side of Bangkok maybe 70-80 kilometers. move large populations away to these job openings. Invest in industry, not Tourism. Only third world countries go this route with Tourism. The world as a whole have seen enough of elephant parks and painted umbrellas that can't be used in the rain! Get real and face reality! In the world market Thai culture and what is offers for a tourist is getting mighty old. Look at South Korea, Japan They do not focus on their culture for income. And they are not a third world economy either. Stop looking a Vietnam, Cambodia, or Myanmar as competitors of the tourist trade. Focus on industry of products that can be used, and not tourist trinket handicrafts that is pure junk that is given away by tourist to friends when they return home. Thailand is turning into what I saw going on in Hawaii. A phony environment of coconut trees and cement along a shore line. Nothing original, with everything imaginable made in China. Even the famous Pluka neckalas shells are now made in China. Can't find a singe shell along the beaches. I've been here off and on since 1970, I see the changes of Thailand and its being destroyed by not only tourism but by the Thai Government encouragement to expand development into the point of no return. I remember a slower pace of life that brought me to live in Thailand in the first place. When Thailand reaches a point of no return, I will leave and return to my own country. USA, which now sucks! So don't be blind sided about tourism and the benefits which may show some aspiration of improvements to Thailand........ In time it will show only a false identity of what Thailand once was, which I miss dearly! 1 Link to comment Share on other sites More sharing options...
Emster23 Posted March 5, 2015 Share Posted March 5, 2015 If there was a cut off, say generous 4 million baht valuation, before land taxes were levied, I am all for it. Currently with no taxes on real estate (correct me if I am wrong), there is no incentive to use or sell the property. This would seem to lead to rich locking up real estate and driving prices higher for someone who just wants a home. Current free ride is better than money in the bank. I never thought I would be in favor of real estate taxes. There is property "Jomtien Beach House" name in front that has been empty as long as I have been here, about 8 years. It is on beach road, would be nice if fixed up (currently just falling apart) or sold to be developed. Link to comment Share on other sites More sharing options...
trogers Posted March 5, 2015 Share Posted March 5, 2015 If there was a cut off, say generous 4 million baht valuation, before land taxes were levied, I am all for it. Currently with no taxes on real estate (correct me if I am wrong), there is no incentive to use or sell the property. This would seem to lead to rich locking up real estate and driving prices higher for someone who just wants a home. Current free ride is better than money in the bank. I never thought I would be in favor of real estate taxes. There is property "Jomtien Beach House" name in front that has been empty as long as I have been here, about 8 years. It is on beach road, would be nice if fixed up (currently just falling apart) or sold to be developed. See Henry George and his book 'Progress and Poverty'. Link to comment Share on other sites More sharing options...
martinhp Posted March 6, 2015 Share Posted March 6, 2015 And where is the inheritance tax bill? Nowhere. All fanfare and no result You missing the point taxes are for welfare so what the idiot gonna do for the thais until now he done them all wrong steal power take there jobs ...........and now tax on something you bought and own he is a fool and for all you who don't like taksin ask yourself who gave 30 bath medical to the thais This is what the gestapo fool would give if He cared for thais and thailand social benefits But he have no education and is not able of making money without stealing them same like he done all his miserable life sure the all gona be all happy Link to comment Share on other sites More sharing options...
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