Finance Ministry yet to reach conclusion on property tax law

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BANGKOK, 2 April 2015 – The Finance Ministry has yet to draw a final conclusion on the new property tax law as the clarity is expected to be derived no sooner than July.

Finance Minister Sommai Phasee, on Wednesday chaired a meeting of the tax reform committee, in which several topics of discussion related to the property tax policy were raised. However, by the end of the meeting, no conclusion had been made yet.

The committee is set to convene at the end of the month after further studies are conducted and all the results are ready to be shared among all members.

Mr. Sommai said that, once the final details of the property tax policy are ready, they will be passed on to academics, educational institutions and related individuals and parties to review and exchange ideas.

He expects this process to be wrapped up in four months — after which all details will be submitted to the Cabinet for consideration.