Finance Ministry challenges tax cut proposal for holders of new long-stay visa

[Thaiger]

A proposal to introduce a long-stay visa for 4 target groups of foreigners has already hit a hitch, with the Finance Ministry pushing back against a suggested tax rate of 17% on local earnings. The ministry argues that the reduced rate will affect government revenue. Under the proposal, wealthy foreign nationals could apply for a special visa that would permit stays of up to 10 years. Eligible foreigners would also be able to own property and land in the Kingdom, while paying 17% personal income tax on revenue earned in Thailand. The proposal was submitted to the Centre for Economic […]

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