InfoQuest (June 3, 2020) -- The cabinet has approved today a royal decree on the cut of the tax on land and buildings by 90 percent of the amount due for the 2020 tax year, said Thai Prime Minister and Defense Minister Prayut Chan-o-cha. If the rates under the new Land and Building Tax Act were imposed, there would be a heavy burden on people who have already suffered a lot due to COVID-19. Therefore, the cabinet decided to cut tax rates and extend payment deadline till August 2020 as a makeshift way of relieving people's burden.
But this policy may land local governments who rely on the collection of land and building taxes for their own expenses in a tight spot, so further discussion on how to put it in place properly will ensue.
Source: InfoQuest, by Tanit Tongnok / Sasithorn, translated by Xinhua Silk Road
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