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NEW UPDATES Asean Affairs   16 February  2015  

Thailand’s economy will grow 4% this year

As the government is restructuring several forms of taxes, Permanent Secretary for Finance Rungson Sriworasat said Friday that Thailand’s economy would meet its targeted growth of 4 per cent  this year.
Mr Rungson told a Bangkok meeting that as Thailand’s economy in 2014 grew the least among members of the Association of Southeast Asian Nations (ASEAN), it is necessary for the government to push the country’s economy again.
In order to meet the target, the government will set up special economic development zones and offer tax incentives to operators investing there, by restructuring taxes, especially a plan to collect land and construction taxes, inheritance tax and revising the excise tax, said Mr Rungson.
Collection of corporate taxes is still lower than the target, he said, adding that this is because the government wanted to stimulate investment in the country.
But collection of value-added tax is expected to be higher than last year and this makes the government believe that the country’s economic growth will achieve 4 per cent growth as targeted in 2015.
Simultaneously, Finance Minister Sommai Phasee said the ministry will proposea tax restruturing programme to the cabinet later this month..
Details of the planned tax restructuring will be submitted to Deputy Prime Minister Pridiyathorn Devakula for consideration first before it is forwarded to the cabinet for approval.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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