Somchai Sujjapongse, spokesman for the Finance Ministry, said a study of tax reform would be completed in the next few months with recommendations to cut corporate income tax from 30 per cent and abolish stamp duty. It is hoped tax cuts will reduce business costs and boost competitiveness.

He said the ministry would also consider introducing death, inheritance and gift taxes and land and property tax would be looked at again, all changes the Thaksin government has refused to endorse. A new environment tax will also be tabled for the new finance minister to consider.

AOT's 2Q better

Airports of Thailand said that its second-quarter results would show a recovery due to a sharp increase in tourists arriving at Phuket airport.

Supatra Meeswan, deputy managing director of the country's main airport operator, said revenue this year was expected to grow by 15 per cent to Bt17 billion.

The company's five-year investment budget is Bt46.2 billion, 91 per cent of which will be spent on Suvarnabhumi Airport.

AOT's share price yesterday fell 1.5 per cent to close at Bt49.25.