Guest Posted March 10, 2015 Report Share Posted March 10, 2015 The government has a 200 billion baht deficit, from previous government spending and needs to hike up taxes. The ideas put forward is the vacant land and property tax, which is proving unpopular, with more favouring a straight increase in VAT from 7% to 10% ... Just wondering, if you were in charge, what ideas you would have to raise 200 billion baht in tax. Link to comment Share on other sites More sharing options...
Flashermac Posted March 10, 2015 Report Share Posted March 10, 2015 Aha, the solution popped into my head. Have the government rig the lottery drawings so that they know in advance which number will win the top prize. They then buy all of that number themselves before the tickets are released for sale. Shouldn't be too hard to arrange. Link to comment Share on other sites More sharing options...
StoneSoup Posted March 10, 2015 Report Share Posted March 10, 2015 VAT was always 10% until the financial collapse of 1997-98 - when it was "temporarily" lowered to 7%. They have continually proposed restoring it to 10% - but each government just "kicked the can farther down the road." The best thing they could do would be to start enforcing tax collection on revenue from residential rental property - but this would impact virtually every senior civil servant - who are all invested in rental properties, receiving income that they do not report. The second thing they should do is collect annual property tax on residential property - and also require property valuation to be assessed at a higher proportion of actual market value (instead of at original value at the time that property was first registered with Land Office). Both of these property-related initiatives would bring in huge tax revenue - and also help cool the property market a bit. But - both initiatives would also impact the "rice bowls" of the elite - and so are unlikely to ever happen. Cheers! SS Link to comment Share on other sites More sharing options...
cavanami Posted March 10, 2015 Report Share Posted March 10, 2015 Easy... Get the BiB off their azz and start enforcing the traffic laws and get the penalty money into the government coffers! Go after all the thousands of unregistered companies and get the taxes due! Go after all the hi-so people that pay zero tax! Lots of ways! just need to do it!!! Link to comment Share on other sites More sharing options...
Guest Posted March 10, 2015 Report Share Posted March 10, 2015 The second thing they should do is collect annual property tax on residential property - and also require property valuation to be assessed at a higher proportion of actual market value (instead of at original value at the time that property was first registered with Land Office). This is an actual poposal on the table and under consideration ... Link to comment Share on other sites More sharing options...
bust Posted March 10, 2015 Report Share Posted March 10, 2015 Knowing how Thais think they will probably introduce something that predominantly impacts on tourists Link to comment Share on other sites More sharing options...
jon46 Posted March 10, 2015 Report Share Posted March 10, 2015 yeah, like a higher airport departure tax for leaving Thailand...lol Link to comment Share on other sites More sharing options...
Pom Michael Posted March 10, 2015 Report Share Posted March 10, 2015 Stonesoup - I had to look that up to be sure - I seem to have forgotten the reduction after the 1997 financial crisis. Thailand official VAT rate is actually 10% not 7%. But VAT rate was reduced to 7% as part of the economic measures taken following the crisis of 1997. The reduced rate of 7% has been since then confirmed every year. Link to comment Share on other sites More sharing options...
cavanami Posted March 10, 2015 Report Share Posted March 10, 2015 One blaring apparent idea...get the BiB to enforce the helmet law! how many millions would they collect in 1 day??? Link to comment Share on other sites More sharing options...
baa99 Posted March 11, 2015 Report Share Posted March 11, 2015 Since the Bangkok elite are pulling the strings, you can rest assured they'll be protected. Link to comment Share on other sites More sharing options...
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