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Thailand Property – Jitters Cause Figures to Fall

By on Dec 06, 2014 in Property News

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Revenue from Thailand property transaction taxes last month shrank 4.4% year-on-year following a rush of activity in September by the well-off determined to pass down real estate assets to their heirs before the inheritance tax can take effect.  The extra transactions in September caused activity in the following month to decline, said Kritsada Jinavijarana, director-general of the Fiscal Policy Office (FPO).

The cabinet earlier this month endorsed a draft bill for the inheritance tax that set the ceiling at a 10% levy on bequests of more than 50 million baht.  However, the charged rates will actually be lower.  The bill will be forwarded to the National Legislative Assembly for deliberation and take effect 90 days after publication in the Royal Gazette.

Private consumption and investment remained tepid last month.

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