Thailand to cut property tax by 90% this year amid coronavirous outbreak
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[BANGKOK] Thailand will cut building tax by 90% this year, reducing revenue by about 36 billion baht (S$1.6 billion), in order to help businesses and individuals during the coronavirus pandemic, the finance ministry said on Tuesday.
The tax will be collected in August, having been postponed from April, Lavaron Sangsnit, head of the ministry' Fiscal Policy Office, told reporters.
Southeast Asia's second-largest economy, which heavily relies on exports and tourism, is expected to shrink as much as 6% this year, the sharpest since the 1997-98 Asian financial crisis, officials say.
REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Singaporeans can now buy record amount of yen per Singdollar
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
StarHub hands Ensign InfoSecurity control back to Temasek in S$115 million deal, books S$200 million gain
