The government is being urged to reconsider extending the 90% cut on the land and building tax for two years to ease the burden of higher prices as this is the greatest concern among hoteliers, according to a Thai Hotels Association (THA) survey.
"The business situation remains uncertain and operators are not ready to pay the full tax rate. If the Finance Ministry insists on this new tax rate, hotels will have stagnant liquidity and be forced to lay off their workforce," said Marisa Sukosol Nunbhakdi, president of the THA.
The THA and the University of the Thai Chamber of Commerce conducted research on the impact of the land and building tax on the private sector, surveying 220 operators of hotels, apartments, restaurants, properties, developers and retailers from Jan 31 to Feb 4.
