Rigging claim hits Senate poll: 149 people ‘already named winners’. The Election Commission (EC) yesterday vowed to urgently probe a claim made by caretaker Senator Somchai Swangkarn that up to 149 Senate election candidates have already been named winners at the district and provincial levels. Bangkok Post
Ministry reports shortfall in revenue: The government’s revenue collection in the first seven months of the 2024 fiscal year was nearly 40 billion baht under the 1.4 trillion baht target due to a reduction in fuel taxes and a decrease in vehicle tax collection. Bangkok Post
Revenue Dept is preparing to amend a law to collect taxes from individuals who have income from abroad, even if that income is not brought into the country.
Cabinet nod for new VAT rule targeting cheap imports: The cabinet has approved in principle a plan announced by the Finance Ministry to collect value-added tax (VAT) on imported goods valued at over one baht in an effort to stop cheap imported goods, particularly from China, from flooding the domestic market. Bangkok Post
Carbon levy slated for 2025: Mr Ekniti says the implementation of the carbon tax will be linked to the Global Warming Act, scheduled to be enacted in 2025. The Excise Department is scheduled to impose a carbon tax by 2025. However, the overall oil tax burden is expected to remain the same, so the public is unlikely to be affected, said department director-general Ekniti Nitithanprapas. Bangkok Post
New overseas income rules: The Revenue Department is preparing to amend a law to collect taxes from individuals who have income from abroad, even if that income is not brought into the country. Bangkok Post
Residential construction area permitted nationwide in 1Q24 is expected to fall to the lowest in 12 quarters, on weak demand, while number of residential transfers nationwide had 5 consecutive yoy drops of 0.8%, 4.4%, 6.9%, 12.7%, and 13.8% from 1Q23 to 1Q24, said the REIC.
Thai residential property developers are greatly reducing their launches this year as poor sentiment hampers new investment.: Launches decelerate amid weak demand. Mr Vichai said developers saw decreases in housing sales and transfers for several quarters due to lower purchasing power and weak demand. The residential construction area permitted nationwide in the first three months of 2024 is expected to plunge to the lowest level in 12 quarters, reflecting developers slowing new launches of residential supply because of weak demand. Bangkok Post
Fans of Euro 2004 will be able to watch all 51 matches through free TV channels, with the first match kicking off on June 15 at 2am (local time) when host country Germany faces Scotland in Group A.
Minister eager to add B500bn in revenue: Tourism and Sports Minister Sermsak Pongpanich is planning to generate an additional 500 billion baht in tourism revenue this year to reach the record-high target of 3.5 trillion baht by surveying projects that lack a stimulus budget and requesting funds from the cabinet. Bangkok Post
