Tax Waiver Okayed For First-House Buyers
 The Yingluck cabinet approved on Tueday the Finance Ministry's proposal to lift the personal income tax for first-house buyers over a space of five consecutive years.
The income tax exemption for first-house buyers will be effective under a royal decree which is yet to be promulgated shortly. Those who may buy the first house of their own will be entitled to the tax waiver amounting to a maximum of 500,000 baht annually for five years in a row on condition their house or condominium unit cost no more than five million baht. The government earlier planned to cut the personal income tax for the first-house buyers by a maximum of 10% but finally resolved to waive it up in favor of those who may never have bought a house or condo of their own before. The government is calculated to lose 12 billion baht in annual tax revenue due to under the tax-waiver policy, which is currently effective until the end of next year. Prime Minister Yingluck Shinawatra announced the Puea Thai-led government will carry out such populist policies which, she said, could stimulate the national economy, create jobs and provide the grassroot people an easy access to financial resources, among others.
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