Finance ministry to restructure taxes

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BANGKOK, Sept 15 —  Finance Minister Sommai Phasi on Monday asked ministry officials to amend several fiscal policies, aimed at enabling Thailand’s economy to sustain growth.

In his policy briefing to ministry officials, Mr Sommai assigned the efficient collection of taxes to be amended and introduced, such as inheritance, land and property taxes.

Simultaneously, personal income tax would be reduced for low-income earners, said Mr Sommai.

To boost the national economy, the Finance Ministry will endeavor to locate long-term funding, including issuing bonds with long-term maturity, to be invested in state projects, he said.

On the other hand, the ministry must administer public debts as high as Bt700 billion because investment projects could be negatively affected if the debt is allowed to balloon, he said.

Management and services provided by state enterprises must also be improved in line with strategies laid out earlier.