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Inheritance, land taxes expected to start
collecting next March
Chartchai Na Chiangmai, member of the National
Reform Council.
The interim government is expected to start collecting inheritance and land
taxes beginning next March, said Chartchai Na Chiangmai, a member of the
National Reform Council.
Chartchai, a former vice rector of the National Institute of Development
Administration (NIDA), said collection of the taxes, proposed by Prime
Minister Gen Prayuth Chan-o-cha and aimed at reducing social disparity in
Thailand, could probably start in March next year, as the issue is an urgent
matter to foster justice in society.
Chartchai, however, asked that the rich understand that collection of these
taxes is essential, as they have benefited from the country’s natural
resources and now it is time to ask them to “pay excess money back to the
country.”
Money collected from these taxes will be spent by the government to help
improve the lives of poorer people, he said.
Initial discussions with concerned government agencies showed that
inheritance tax will be imposed on those receiving above Bt50 million, which
should be acceptable by a majority of the people, said Chartchai.
Those who inherit property less than this amount will not be affected.
The major reason from collecting land tax is for the owners to make use of
the land instead of doing nothing, he said.
On allowing collection of the value-added tax to remain at the current rate
of 7 percent for another year, Chartchai said the rate must be increased to
10 percent in the future, in line with several other countries. (MCOT)
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Commerce minister wants
export growth to reach 5 percent
Commerce Minister Gen Chatchai Sarikulya speaks
to the press.
Commerce Minister Gen Chatchai Sarikulya has ordered the
International Trade Promotion Department to find ways to boost Thailand’s
exports for 2015 by at least 5 percent, up from an earlier projection of 4
percent and from this year’s expected growth of 1.5-2 percent.
His order was made Friday, Oct. 10, as he delivered his policy to senior
officials of the department.
Worldwide Thai commercial attachés are scheduled to hold a meeting with the
private sector on October 18 at a Bangkok hotel.
Two days after that, the commercial attachés will attend a meeting on how to
stimulate Thailand’s exports in 2015.
During the Friday meeting, Gen Chatchai ordered the department to prepare
plans for boosting exports, and to prepare a 10-year strategy and proactive
plan to penetrate overseas markets, especially niche ones which have high
purchasing power.
Also, Gen Chatchai ordered department officials to explore ways to build
Thai product brands in foreign markets. (MCOT)
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Poll: Majority of respondents worried
over rising commodities prices
About 66.5 percent of respondents in a survey conducted recently by Bangkok
University’s Bangkok Poll said they are worried over the rising cost of
living in Thailand.
The survey on 1,194 people nationwide showed that 37.3 percent of total
respondents were stressed over falling prices of agricultural products,
followed by the narcotics problem at 36.7 percent, and 33.9 percent
indicated social divisiveness over political differences.
Some 34.7 percent of the total respondents said they wanted the government
to solve the high cost of living, followed by 18.2 percent who wanted the
government to shore up agricultural product prices, 15 percent indicated
suppressing corruption, 10.5 percent on solving drugs and crime, and 9.9
percent on resolving social divisiveness.
After the government having administered the country for almost two months,
57.3 percent of the total respondents said they were satisfied with the
performance of Gen Prayuth Chan-o-cha’s administration.
About 55.5 percent of the respondents admitted they have become less
stressed over political differences among people in the country now,
compared to before the military seized power in the May 22 bloodless coup.
Surprisingly, 31 percent of respondents claimed they had never been stressed
over Thai politics. (MCOT)
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Pattaya Property Show
attracts buyers
The show was officially opened by Deputy Mayor
Ronakit Ekasingh.
Over 1,240 buyers and investors attended the 2nd Pattaya Property Show held
at the Dusit Thani Pattaya October 3-5.
Over 62 exhibitors took part, including leading local developers, realtors
and property media.
The show was officially opened by Deputy Mayor Ronakit Ekasingh and
exhibitors included A+ Properties, Riviera, Del Mare, The Ville, Ramon Land,
Ocean Residential, Sands, Onyx, SC Asset, Rightmove Pattaya, Baan Talay,
Naphak Property Plus, The Surf, The 12 Real Estate, Beli Slon, AD
Properties, Global Insurance, Elegance, The Surf, Kingdom Property, Naturaza
Art, Mosiac, Siam Realty Group, Number 1 Tower, Global Top Group, Horizon,
Veranda Residence, Pattaya City, New Nordic, Siam Oriental and Norwegian.
Over 62 exhibitors took part, including leading
local developers, realtors and property media.
Charlie Warner, CEO at Exact Trading, organizer’s of the show said, “Real
estate industry sales has, as we know, been slow over the past six months,
so we organized this exhibition to promote and stimulate sales in the
region. This was in fact the largest real estate expo ever held outside
Bangkok, and although the attendance was slightly lower than last January’s
event, several exhibitors have already reported stand sales at the Dusit and
more sales are anticipated in the next few weeks.”
Gery Kis, CEO at Onyx said, “We were very pleased with the show and have
several clients due to book, including one investor who is going ahead with
an entire floor at our Marriott Executive Apartments in South Pattaya.”
Sirinapa Potising, Head of Sales at Dusit Groups said, “We sold a property
at our ‘Baan Dusit Pattaya Hill’ for THB7.7 million within 30 minutes of the
opening of the show. On the second day they sold ‘Baan Dusit Pattaya Hill’
for THB 4.5 million and completed on a THB1.2 Million condominium sale at
Dusit Grand Park.”
Exact Trading are now planning to organize the Thai Property Expo at the
Conrad Bangkok November 7-9, which will bring developments from all over
Thailand to attract Bangkok based Thai and expat investors and buyers. Real
estate already confirmed covers Pattaya, Bang Saray, Rayong, Chang Mai, Khao
Yai, Koh Chang and Hua Hin. www.thaipropertyexpo.com
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