BANGKOK, Feb 13 — 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. (MCOT online news)
