Now that we have new cabinet ministers to drive the economy forward, the next expectation is for martial law to be lifted so that foreign investors and tourists can feel more comfortable about returning to Thailand. Meanwhile, the junta is determined to quickly show the people some signs of genuine reform, so it’s no surprise it has revived the idea of an inheritance tax (IHT).
The prospect of IHT is like a tidal wave bearing down on people who hold properties, but the lack of clarity is frustrating.
The director-general of the Revenue Department has said only that a bill to introduce IHT, at rates between 5% and 30% of asset value, would be proposed to the cabinet very soon.