Land appraisal prices in Thailand to be raised in 2023

13 Sept 22:54 Key points summarised by AI

Thailand's Treasury Department will implement a new national land appraisal price list for 2023-2026 starting January 1, 2023, raising prices by approximately 3% in Bangkok and an average of 8% in other provinces.
These price increases will significantly affect land along new infrastructure projects like train routes, new roads, and within the Eastern Economic Corridor (EEC).
Highest appraisal prices in Bangkok reach 1 million baht per 4m2 on prime roads such as Silom and Ploenchit, while outside Bangkok, Chon Buri, Rayong, and Chachoengsao provinces (especially within the EEC) see the highest values.
The Thai Chamber of Commerce plans to appeal to the government for measures to ease the land tax burden on businesses, proposing options like installment payments without penalties.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Today 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.