Japanese Chemical Trader blog

Japan Chemical Trading Blog

Thailand’s Military Government Plans to Increase Tax on the Wealthy

A Nikkei Newspaper article dated September 10 said, “Thailand’s interim military government will implement tax reforms including new taxes on the wealthy, including a fixed asset tax and an inheritance tax, while providing benefits to people with low incomes”.
The government plans to impose a tax on land and buildings of 0.5% to 2% of their value and an inheritance tax of 10%.
These taxes, never introduced before in the country, might become unpopular among the wealthy in Thailand.
However, the tax rates are still very low compared to Japanese equivalents.

Maybe the wealthy have thus far been too privileged in Thailand.
I will be looking closely to see if the military government is able to carry through these reforms.