NEW PROPERTY TAX REFORM Wake Me Up When It's Over

Insider Story Locations

Find our most recent stories tagged by their locations. Click here for more story locations.

Posted: 29 Dec 2009 | 6:00 am

Shades of Wham here but in what is no doubt one of the most controversial legislations before the Thai Government looks to be an uphill battle for both approval and then implementation. The Finance Ministry's draft policy has already been submitted and is widely thought to have a chance to pass into law next year.

A ramp up period has been estimated by many to be in excess of 24 months once approval has been granted and implementing guidelines issued. At the heart of the controversy is the tax system which would target large and wealthy landowners of undeveloped land. There remain many issues such as the basis of valuation and appraisals, low income exemptions and agricultural property.

Though the tax will increase collections by billions of baht there continue to be many special interest groups and factions which oppose the draft either in part or principal. This looks set to be an ongoing developing story.

DO YOU LIKE THIS?

Insider up to the Minute

Cool Hunting - On the Web

Starwood Capital's eco chain brand
http://www.1hotels.com

Singapore flashpacking budget sleep
http://www.winkhostel.com

Top Manila travel and food blog
http://www.ourawesomeplanet.com

PHUKET WEATHER

The Green Report

A column featuring environmental issues and conservation around the island. Click here for more Green Reports check out the latest story from the leading experts:

Wellness Retreat Wins Award

Thai based group Zinc InVision have been recognized with a Senses Wellness Award for Best Medical Wellness Resort for The Farm at San Benito in the Philippines.

WEDNESDAY Business Crisis Management Seminar

After Phuket's recent tsunami and earthquake scares, environmental organization SEEK have arranged Business Continuity Management for Crisis Situations seminar.