Thailand to cut property tax by 90% this year amid coronavirous outbreak
[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
A NEWSLETTER FOR YOU
Property Insights
Get an exclusive analysis of real estate and property news in Singapore and beyond.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Far East Shopping Centre back on market at unchanged S$928 million asking price
London mansions sold at 30% discount spell gloom for luxury market
Delfi Orchard up for collective sale at S$438 million guide price
US existing home sales drop in March; median price increases
German home building permits tumble 18% in February, extending rout
China national who had Singaporeans front plan to buy East Coast houses pleads guilty