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April 30, 2011

New Property Tax Incentive for Homebuyers Buying in 2009

Bangkok Post, Corporate Counsellor Column

The current global economic crisis has had a considerable effect on Thailand’s real estate market, and house purchasing demand has decreased accordingly. The stagnant housing market will have an impact on many businesses, the main ones being real estate developers, financial institutions, construction companies, and construction material suppliers. To address this issue, on January 20, 2009, the Cabinet passed a resolution which provides tax measures intended to stimulate the Thai economy. One such measure is a personal income tax deduction on amounts equal to mortgage loan principal payments of up to Baht 300,000. This article examines the benefits and drawbacks of this measure.

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