Thai Property Board

01/06/2022

Cabinet okays extension of hotel subsidy scheme

Programme remains until September

The cabinet has acknowledged the extension of the fourth phase of the "We Travel Together" hotel subsidy scheme to assist the tourism sector.

Danucha Pichayanan, secretary-general of the National Economic and Social Development Council (NESDC), said the cabinet on Tuesday approved the extension of the fourth phase of the scheme, which will be extended until September from May 31, as ratified on May 6 by the Centre for Economic Situation Administration (CESA).

However, he said the cabinet has yet to decide on whether to add 1 million room nights to the campaign to help the tourism sector, as approved earlier by CESA.

The We Travel Together scheme was launched in July 2020 to stimulate local tourism, which was clobbered by the first wave of the pandemic.

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The cabinet has acknowledged the extension of the fourth phase of the "We Travel Together" hotel subsidy scheme to assist the tourism sector.

31/05/2022

MRTA gives green signal for Orange Line bids

The Mass Rapid Transit Authority of Thailand (MRTA) will open bidding from Friday for its THB140 billion Orange Line electric railway project.

The MRTA announced that interested companies can purchase the “request for proposal documents” (RFP) at its headquarters from Friday until June 10 from 9am to 3pm.

The documents must be submitted to the MRTA before July-end.

It said the winner of the bid would be announced and a contract signed by late this year.

The Orange Line, stretching precisely 35.9 kilometres, will roll from Bang Khunnon to Minburi.

It is divided into the eastern section – from the Thailand Cultural Centre to Minburi, a length of 22.5km, with 17 stations (10 underground and seven elevated) – and the western section, from Bang Khunnon to the Thailand Cultural Centre, a length of 13.4km with 11 underground stations.

The project will be a joint venture between the MRTA and the private firm that wins the bid.

The MRTA will not only invest in land expropriation for the entire project but also for the construction of railway infrastructure on the eastern section.

The bid winner will need to invest in construction of the railway structure for the western section and install the electrical system, carry out maintenance and operate services.

The project is divided into two phases:

The first phase entails designing and installing the electric railway and carrying out test runs. This phase on the eastern section is scheduled to be completed in three years and six months and on the western section in six years.

The second phase is to operate and maintain the electric trains across a period of 30 years.

Published : May 25, 2022

By : THE NATION

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The Mass Rapid Transit Authority of Thailand (MRTA) will open bidding from Friday for its THB140 billion Orange Line electric railway project.

30/05/2022

Chinese top foreigners who purchased condos in Thailand: REIC

Chinese bought the most condominiums among foreigners in the first quarter of 2022, the Real Estate Information Centre (REIC) reported.

REIC acting director-general Wichai Viratakaphan said 2,107 condominium units worth THB10.26 billion were transferred to foreigners in the first quarter of 2022.

In the same quarter last year, foreigners that bought the most condominiums were:

Chinese: 949 units
Russians: 134 units
US citizens: 114 units
Britons: 91 units
Germans: 81 units
French: 77 units
Taiwanese: 53 units
Indians: 51 units
Canadians: 40 units
Australians: 34 units.
As for value, the foreigners that spent the most by nationality in quarter one of 2021 were:

Chinese: THB4.57 billion
Russians: THB435 million
Cambodians: THB401 million
Taiwanese: THB391 million
French: THB390 million
US citizens: THB344 million
Britons: THB325 million
Australians: THB318 million
Indians: THB271 million
Germans: THB255 million.

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Chinese bought the most condominiums among foreigners in the first quarter of 2022, the Real Estate Information Centre (REIC) reported.

28/05/2022

Government’s Covid subsidies won’t be taxed

The Royal Gazette website on Wednesday published a Finance Ministry announcement stipulating that no revenue tax will be collected from subsidies provided under government measures to stimulate the economy or tourism, as well as measures aimed at alleviating people’s financial burden.

he announcement, signed by Finance Minister Arkhom Termpittayapaisith on May 5, said subsidies under the following schemes will be exempted from tax for tax year 2021.

> Rao Tiew Duay Kan (We Travel Together) travel subsidy campaign

> Kam Lang Jai packaged tour subsidy scheme

> Tour Tiew Thai packaged tour co-payment campaign

> Khon La Khrueng (Let’s Go Halves) co-shopping subsidy scheme

> Subsidies provided to holders of state welfare cards and people in vulnerable groups

> E-vouchers granted under the Ying Chai Ying Dai (Spend More, Get More) scheme

> Rao Chana (We Win) cash handout scheme

> Mor33 Rao Rak Kan (Section 33 We Love Each Other) cash-handout scheme

> Subsidy provided to employers and employees in highest control zones (red provinces)

> Subsidies provided to SME operators, motorcycle taxi riders, taxi drivers and college students who have been affected by Covid-19.

Published : May 19, 2022

By : THE NATION

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The Royal Gazette website on Wednesday published a Finance Ministry announcement stipulating that no revenue tax will be collected from subsidies provided under government measures to stimulate the economy or tourism, as well as measures aimed at alleviating people’s financial burden.

27/05/2022

EEC Office banking on Japanese investors

Focus to be on high tech and BCG model

The Eastern Economic Corridor (EEC) Office is keen to draw Japanese investment in electric vehicles, smart electronics, semiconductors, pharmaceuticals and medical devices, digital, smart farms, the bio-, circular and green (BCG) economic model and smart cities over the next decade.

According to Petch Chinabutr, deputy secretary-general of the office, the strategy is based on a memorandum of intent on collaboration on green industry and advanced technological development signed by the EEC Office and the Japan External Trade Organization (Jetro) on Jan 13 this year during a visit to Thailand by the Japanese Minister of Economy, Trade and Industry Koichi Hagiuda.

The memorandum aims to encourage Japanese companies operating in Thailand to further invest in the EEC, especially in advanced technology and R&D and strengthen sector-specific outlays in targeted industries, namely health and well-being, digital, decarbonisation and logistics.

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The Eastern Economic Corridor (EEC) Office is keen to draw Japanese investment in electric vehicles, smart electronics, semiconductors, pharmaceuticals and medical devices, digital, smart farms, the bio-, circular and green (BCG) economic model and smart cities over the next decade.

26/05/2022

Joining the EV revolution in Asean

Newcomers can consider three approaches to tap into a highly promising industry

Governments in Southeast Asia are floating very ambitious plans to capture a share of the electric vehicle market. And rightfully so.

As the world prepares for carbon neutrality, the automotive industry is embarking on a fundamental transformation. At the COP26 summit in November, various nations and leading car manufacturers pledged to phase out fossil fuel-powered vehicles by or before 2040.

In Southeast Asia, the aim is clearly to create opportunities for the EV industry to serve both the export and domestic markets.

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Governments in Southeast Asia are floating very ambitious plans to capture a share of the electric vehicle market. And rightfully so.

25/05/2022

Phuket aims to attract 5 million foreign tourists this year

With Thailand easing rules for entry, Phuket will likely attract as many as 5 million foreign tourists this year, making up 50 per cent of the pre-Covid arrivals, according to the island resort province’s Tourism and Sports Office.

achadaporn Oin, head of Phuket’s Tourism and Sports Office, said on Thursday that since the cancellation of the Test & Go programme on May 1, the island province has seen 2,000 to 3,000 arrivals per day.

The number is expected to rise to 10,000 per day during the high tourism season in the fourth quarter of the year, she said.

“We expect that throughout this year, about 5 million foreign tourists will visit Phuket. That’s a recovery of 50 per cent compared to the pre-Covid period when there were 10 million foreign visitors per year,” the official said.

From May 1-17, Phuket saw accumulated arrivals of 45,806 via 413 international flights. The provincial Tourism and Sports Office estimated that at least 200,000 foreign tourists will arrive in Phuket throughout May.

“During the rainy season, the low season for Thailand’s tourism, Phuket expects to get tourists from the Middle East and India. People from these markets like to travel during the rainy season,” Rachadaporn said.

“In the fourth quarter, which is Phuket’s high season, we expect 10,000 foreign tourists per day, accounting for a third of the province’s pre-Covid arrivals,” she added.

Since July 1, 2021, when the Phuket Sandbox programme started for people entering Thailand, until May 17, Phuket received 5,207 international flights and welcomed 544,653 visitors, according to the official.

Meanwhile, a source from the Ministry of Tourism and Sports disclosed that a group of Thai tourism operators earlier this month held roadshows in the United Arab Emirates and Saudi Arabia, where they met thousands of tour operators and travel agents from across the world.

The delegation was led by Tourism and Sports Minister Phiphat Ratchakitprakarn and the Tourism Authority of Thailand.

In the UAE, the Thai group joined the Arabian Travel Market 2022 in Dubai on May 9-12. They held a roadshow in Saudi Arabia earlier this week, following up on the recent restoration of bilateral ties, the source said.

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With Thailand easing rules for entry, Phuket will likely attract as many as 5 million foreign tourists this year, making up 50 per cent of the pre-Covid arrivals, according to the island resort province’s Tourism and Sports Office.

24/05/2022

Housing demand unchanged

Despite rising inflation and downgrades to economic growth, housing demand this year is expected to remain unchanged as the country's reopening can help offset those deficits, according to the Real Estate Information Center (REIC).

Vichai Viratkapan, REIC director-general, said four indicators of housing demand continued to see double-digit growth in 2022, even though the GDP expansion outlook was cut to 3% on May 9 from 3.5% on Feb 9.

"The country's reopening will help boost the economy in the second half, particularly the tourism sector's recovery," he said.

"Together with the growth in the industrial and export sectors, housing demand will be strong, especially from those working in the two sectors."

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Despite rising inflation and downgrades to economic growth, housing demand this year is expected to remain unchanged as the country's reopening can help offset those deficits, according to the Real Estate Information Center (REIC).

23/05/2022

INDA accentuates cutting-edge design

The metaverse, interactive media and artificial intelligence (AI) are becoming critical tech tools to support the design and architecture sectors amid more complicated demand in the fields, according to academics.

The International Program in Design and Architecture (INDA) under Chulalongkorn University's Faculty of Architecture said it has enabled students who complete their studies every year to showcase their design projects through the metaverse over the past two years.

Surapong Lertsithichai, director of INDA, said the programme allows students to make use of virtual reality (VR) tech and headsets, including applying avatars for the exhibition.

AI tech solutions are widely used in the architecture sector in dealing with sophisticated designs and demand, he said.

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The metaverse, interactive media and artificial intelligence (AI) are becoming critical tech tools to support the design and architecture sectors amid more complicated demand in the fields, according to academics.

21/05/2022

Cabinet okays huge 50% cut in long-term resident visa fee

The approval will come into effect 90 days after the Interior Ministry’s announcement is published in the Royal Gazette, said government spokeswoman Rachada Dhnadirek.
She said four group of foreigners – wealthy people, retirees, those who want to work in Thailand and experts – are eligible for the 10-year LTR visa.
“Up to four family members, including children up to 20 years, will be allowed to request this visa,” she said.
“These foreigners can also apply for work permits,” she added.

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In a bid to stimulate the economy and investment, the Cabinet on Tuesday approved a 50 per cent reduction in the 10-year long-term resident (LTR) visa fee for high-potential foreigners – from the previous THB100,000 to THB50,000.

20/05/2022

Tax Collection Exceeds Target in First Half of Fiscal 2022

BANGKOK (NNT) - Total tax collected in the first half of the 2022 fiscal year has exceeded the Revenue Department’s collection target by 14%. This notable performance has been attributed to the use of digital technology and updated management practices.

Revenue Department Director-General Ekniti Nitithanprapas said the Revenue Department has been pushing the concept of “sustainable revenue.” This involves applying digital technology and modern management practices in tax collection to ensure financial sustainability.

Ekniti said the Revenue Department collected 101.695 billion baht in excess of the tax target for the first six months of fiscal 2022. During the same period, the department collected 4.2 billion baht in VAT from foreign electronic service platforms that offered services to users in Thailand. 10 billion baht is expected to be collected from this channel for the entirety of fiscal 2022.

The director-general said Thailand is currently negotiating with 139 countries for the issuance of measures to prevent tax avoidance. One of the measures involves mandating that multinational companies pay part of their taxes based on profits earned from countries that utilize their services. This would be the case regardless of whether the multinational has a permanent site of operation in each country.

Another key measure involves enforcing a global minimum income tax of 15% on companies that choose to transfer their profits to tax havens. Ekniti said that if negotiations bear fruit in 2023 as planned, Thailand will have a new source of income from multinationals that have so far evaded taxation.

Information and Source

Reporter : Natthaphon Sangpolsit

Rewriter : Paul Rujopakarn

National News Bureau : http://thainews.prd.go.th

19/05/2022

Alibaba's first Thailand data centre goes live

Alibaba Cloud, the cloud computing service arm of Chinese e-commerce giant Alibaba Group, has launched its first data centre in Thailand to capitalise on the country's cloud market and support the nation's 20-year strategic plan.

Alibaba Cloud (Thailand) has registered capital of 1.06 billion baht, according to the Business Development Department.

"Thailand is one of the strategic countries to provide our cloud services," Tyler Qiu, Thailand country manager for Alibaba Cloud Intelligence, said via a virtual news conference.

Bangkok is one of 27 Alibaba Cloud Regions -- a geographic area where the company's data centres are deployed. The data centre in Bangkok went live last month.

Alibaba Cloud has a total of 84 availability zones for cloud services covering more than 200 countries. In Asean, Kuala Lumpur, Singapore, Jakarta and Manila also serve as Alibaba Cloud Regions.

The company has not disclosed the size of the investment for the data centre, while the outlay also covers equipment, technology, business partnership, and skill-building for workforces and localised solutions.

"We partner with local data centre providers to provide Alibaba cloud services," said Mr Qiu. The company did not disclose the location of its data centre in Bangkok or those of its partners, citing security concerns.

In 2020, the cloud market in Thailand was valued at US$620 million, including $430 million for platform- and software-as-a-service (PaaS and SaaS), with the remainder for infrastructure-as-a-service (IaaS), Mr Qiu said, citing a study by research company Gartner.

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Alibaba Cloud, the cloud computing service arm of Chinese e-commerce giant Alibaba Group, has launched its first data centre in Thailand to capitalise on the country's cloud market and support the nation's 20-year strategic plan.