Tag Archive: reduction

  1. Reduction of Property Transfer Fees Proposed

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    According to media reports, the government’s economic teams, real estate groups and major developers are proposing a reduction of property transfer registration fees from 2% to 0.01%. Furthermore, mortgage fees are proposed to be decreased from 1% to 0.01% with the goal of supporting the real estate sector in Thailand.

    Apisak Tantivorawong, Finance Minister, purportedly said he is confident that the conclusion of measures to spur the property sector would come soon, and it would revive the real estate business. Industry consultants and experts have been urging incentives that would help home-buyers with more affordable rates, to lower their financial burden while giving them enough time to prepare for an ownership transfer. It is important to note that the measures have not been approved as yet, but if they are this certainly would be good news for buyers and property investors in Thailand.

    We will keep you informed about new developments in the matter in this news blog.

  2. Discussion about Reduction of BOI Promotion Continues

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    Following a controversial debate, the Thai Board of Investment (“BOI”) has decided to postpone the implementation of a new BOI policy which was scheduled to be announced in March and to come into effect in June this year.

    The BOI earlier gave notice of its intention to change their foreign investment promotion policy following a Cabinet resolution dated 11 October 2011, and asked for comments and recommendations from the private sector. The proposals have been presented as a draft and are subject to further revision. However, foreign investors are alarmed – if the changes are realized, they will result in significant cutbacks in the overall volume of BOI incentives and a fundamental change of the BOI policy.