Apisak not deterred by opposition to windfall tax
By The Nation
BANGKOK: -- Finance Minister Apisak Tantivorawong has pledged to go ahead with the windfall tax plan despite opposition from land developers.
Apisak said he will push forward with the plan to expand the tax base.
He said the tax rate would be about 5 per cent over the appreciation of the value of land and buildings which benefit from the infrastructure projects like mass transit.
Currently the ministry is holding public hearings on the bill, Krungthepturakij newspaper quoted him as saying.
"Although property developers expressed their opposition [citing the windfall tax will duplicate the land and building tax and lead to rising costs], we will go ahead. I am not surprised they oppose it," he said.
Thailand's major sources of tax revenue come from consumption tax and income tax. Taxing the wealthy accounts for only 1 per cent of the total tax revenue, he said earlier.
The country suffered from a wide income disparity and the windfall tax might narrow it.
The government is under pressure to provide welfare for those who live under the poverty line and other lower income groups, with 14 million people recently registering to receive financial support from the government.
NLA seeks solution to feud between Uber and taxi driversBy The Sunday Nation THE National Legislative Assembly (NLA) has been considering proposed solutions to the conflict between Uber and taxi drivers amid fears that the problem could hurt tourism, the National News Bureau of Thailand reported...READ MORE...
Activist calls for review of safety measures at dangerous sitesBy WICHIT CHAITRONG THE SUNDAY NATION A LABOUR academic has urged business leaders and authorities to review safety measures at wastewater treatment facilities and other dangerous sites following the tragic death of five people at...READ MORE...
Ex-PAD leader Somkiart turns up in court after warrant issuedBy The Nation Somkiart Pongpaibul, a former leader of the now-defunct People’s Alliance for Democracy (PAD), presented himself at the Criminal Court on Friday after the court issued an arrest warrant for his failure to show up to hear...READ MORE...
Media urged to act as bridge between government and peopleBy Khanittha ThepkajornThe Nation The media should help bridge the gap between people and the government in paving the way for the country’s newly introduced national strategy and reform plans addressed under two new laws on national...READ MORE...