BANGKOK, 31 March 2015 – The National Reform Council has heard the details of a report from the committee in charge of economic reforms and agreed with proposals included in it.
The NRC meeting on Monday was presented with a report from the economic and financial reform committee, chaired by Somchai Richupan, which focused on the overhaul of the tax structure, the financial foundation and the co-op system.
The proposed tax structural change includes such elements as the separation of tax structures for national and local references, the passing of inheritance and property taxes, and the setting up of a national tax committee.
In its proposed restructuring of the financial foundation and the co-op system, the committee emphasises the need of savings through collaboration with Bank for Agriculture and Agricultural Cooperatives and the Government Savings Bank, as well as the elevation of the village funds into a community bank in 5-10 years.
Most NRC members agreed with the committee’s proposals as they are believed to be beneficial for the country.
