ey-global-tax-policy-outlook-for-2015

Thailand
2.4 Tax policy outlook for 2015 — detail
• Policymakers continue to view land and property taxes as
a way to raise more income and, at the same time, help
reduce income disparity. A draft land and buildings tax bill is
expected to have been tabled for Cabinet approval by the end
of 2014.
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collection, with medium-to-large-sized taxpayers already
being targeted more often than in the past, and transfer
pricing regulatory changes are possible to likely to align
Thailand’s transfer pricing with other ASEAN nations.
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place as it hopes to promote the domestic economy, even
though this rate is relatively low compared to other countries
in the region. Moreover, any VAT rate increase will lead
directly to an increased cost of living, which will seriously
• The currently in-place reductions in CIT to 20% and top rate
of PIT to 35% are temporary (for one more year), and so, in
revert to the higher rates either temporarily or permanently.
In current circumstances, this is not considered likely.
2.5 Fiscal stimulus in 2015
2.6 Political landscape
• Thailand is currently stable. However, there is still a risk
of political instability returning as the military leadership
that took over administration of the country in May 2014
prepares a new constitution and seeks to organize elections
that are targeted for late 2015, and which will be held under
new rules.
• The military leadership has assigned responsibility for
political reform to a 250-seat National Reform Council (NRC),
being written.
• The reforms proposed by the NRC and the military are likely
to include a focus on the issue of income disparity, and tax
may be used as one of the tools to help achieve this.
• The NRC is also likely looking at revisions of trade laws in a
bid to decrease monopoly and create mechanisms that could
increase farmers’ bargaining power.
2.7 Current tax policy and tax administration
leaders
Tax policy leaders
• Sommai Pasi, Minister of Finance
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Tax administration leaders
•
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Tax Administration
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Investment
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