Penultimate “stimulus plan”… tax cuts to boost property market

The cabinet yesterday approved a new stimulus package of tax cuts worth about 40 billion baht in a further attempt to boost the economy.

The new package comes on top of a 115-billion-baht stimulus package passed by the cabinet a week ago to counter the economic slowdown in the face of the global recession. (Bangkok Post)

Ah ! Are you feeling stimulated enough ? 😉

The good point with Abhisit is his obsession to look and act as foolishly as the leaders in Europe, USA and Asia.

Anyway. The plan is grotesque… With only one serious decision : a nice gift to rich people to boost the property market. They will be able to slash their taxable income by buying more (empty) houses and (empty) condos…

Here are the details of the “plan” (and my comments).

gifttax

See you soon for more “stimulation” and more of the Dildo Economy.

Change with Abhisit ? Yes we can’t.

3 Responses to “Penultimate “stimulus plan”… tax cuts to boost property market”


  1. 1 fall 21 January 2009 at 3:33 pm

    “…eligible to deduct taxable income at a maximum 300,000 baht of the principal and 100,000 baht of loan interest”
    Does that deduction goes all the way through out loan period or one time?
    With current rate of income tax at +15,000 (or is it 20,000?), rough calculation of the tax break would be beneficial for those who have income more than +40,000 a month(300,000/12 + 15,000).
    Aim at middle class and definitely not for the poor.

  2. 2 Rockderk the Great 22 January 2009 at 1:36 am

    The good point with Abhisit is his obsession to look and act as foolishly as the leaders in Europe, USA and Asia.

    More like African leaders I’d say. I wonder what the trillion baht note will look like?

  3. 3 ThaiCrisis 22 January 2009 at 8:38 am

    Good question Fall.
    I’ve checked with accounting people.

    -interests : deduction up to 100 000 THB per year. So if you pay 100 000 THB interests for a loan every year, you can deduct every year.
    -principal : this is the new point, and apparently it’s ONLY for 2009 (a one shot).


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Thailand Crisis

Coup, Economic slowdown, Terror In the South... The situation is worsening in Thailand. Bumpy road like often before.

But this time, it's different.

The key to understand the present turmoil is the inevitable... succession of King Bhumibol.


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