Monetary (Interest rates) and Fiscal Policy (Taxation)
The land and buildings tax, one of the government's measures to reduce income disparity and make better use of land, is expected to increase state revenue derived from existing local development tax and house and land tax by seven-fold. The new property tax will come into force after the assessment of all of the 32 million land plots nationwide is completed. The new land assessment value will serve as the new tax base for the tax. It is expected that the law will come into effect by 2016.
Maximum rates will be set at 0.5% for land for agricultural use and 1% for residential use. In addition, the government will focus on agricultural zoning as a means to manage land supply.
• Monthly PMI
None Coverage
• Major political events
A Thai general election planned for next year will be delayed until 2016, Deputy Prime Minister Prawit Wongsuwan said .Prime Minister Prayuth Chan-ocha, who led a military coup in May, had previously hinted at a delay to polls promised for late 2015.The elections will take place in 2016, citing groups opposed to the junta, or National Council for Peace and Order as one reason for the delay "it will be able to organize elections around the start of 2016 once the constitution is drafted.
• IT Market Major Events / Developments
The Third International Conference and Exhibition on Pharmaceutical, Nutraceutical and Cosmeceutical Technology (PharmaTech 2014) that will take place at The Queen Sirikit National Convention Center (Bangkok, Thailand) on December 1-2, 2014. The main theme of the conference is “Innovative Pharmaceutical Technology for Research, Manufacturing and Healthcare Excellence”.
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Monetary (Interest rates) and Fiscal Policy (Taxation)
The land and buildings tax, one of the government's measures to reduce income disparity and make better use of land, is expected to increase state revenue derived from existing local development tax and house and land tax by seven-fold. The new property tax will come into force after the assessment of all of the 32 million land plots nationwide is completed. The new land assessment value will serve as the new tax base for the tax. It is expected that the law will come into effect by 2016.
Maximum rates will be set at 0.5% for land for agricultural use and 1% for residential use. In addition, the government will focus on agricultural zoning as a means to manage land supply.
• Monthly PMI
None Coverage
• Major political events
A Thai general election planned for next year will be delayed until 2016, Deputy Prime Minister Prawit Wongsuwan said .Prime Minister Prayuth Chan-ocha, who led a military coup in May, had previously hinted at a delay to polls promised for late 2015.The elections will take place in 2016, citing groups opposed to the junta, or National Council for Peace and Order as one reason for the delay "it will be able to organize elections around the start of 2016 once the constitution is drafted.
• IT Market Major Events / Developments
The Third International Conference and Exhibition on Pharmaceutical, Nutraceutical and Cosmeceutical Technology (PharmaTech 2014) that will take place at The Queen Sirikit National Convention Center (Bangkok, Thailand) on December 1-2, 2014. The main theme of the conference is “Innovative Pharmaceutical Technology for Research, Manufacturing and Healthcare Excellence”.
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