The Thai Chamber of Commerce (TCC) has urged the government to delay fully collecting on land taxes as a way to assist the public amid the current economic situation.
TCC Chairman Sanan Angubolkul suggested that the administration only collect 10% of the total land tax owed for the period of 2020 to March 2022, with the full amount to be collected from April 2022 onward. He said doing so would help alleviate economic hardships brought about by the global pandemic and the war between Russia and Ukraine.
He also reiterated that collecting the full amount now would impact several businesses, especially hotels and services that have yet to recover.
The land tax had previously been collected at a fixed rate of 12% of income generated from using the land. However, the amended rate was calculated based on the appraised value of the land. This means hotels located at the heart of a city and other areas with high appraisal value would be heavily affected by the new rate, promulgated from 2020.
In order to fast-track the nation’s economic recovery, Chairman Sanan also urged the government to declare COVID-19 an endemic disease as soon as next month, rather than July. He added that the administration should urgently expand vaccine booster coverage, continue and increase funding for the 50-50 copay campaign, and expand the public debt ceiling from 60% to 70% of GDP.(NNT)
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