Finance Ministry drafting windfall tax bill targeting property owners
The ministry is drafting a windfall tax bill that would result in the collection of taxes from property owners whose property prices appreciate due to government transport projects, said Krisda Chinavicharana, director general of the Fiscal Policy Office.
The tentative rate is about 5 per cent of the appreciation value.
Properties located close to transport routes such as railways, roads or airports would be subject to the new tax.
But the tax would only apply to properties that benefit from new government projects.
Properties located near existing projects, such as Skytrain and underground train projects in Bangkok, would not be affected.
He said the ministry will soon submit the bill for the Cabinet’s approval.