Thailand reviews taxes and launches digital wallet to tackle income disparity

The Finance Ministry of Thailand is set to review the new land and building tax and the inheritance tax and launch the digital wallet following an order from Prime Minister Srettha Thavisin. The move aims to mitigate income disparity in the nation. PM Srettha, who also holds the Finance Minister post, gave the directive subsequent to the appointment of a new director-general of the Revenue Department.

It was noted that the inheritance tax only rakes in an annual total of around 200 million baht, a figure PM Srettha deemed as minimal and symbolic. The 61 year old prime minister acknowledged potential dissatisfaction from the public due to the recurrent discussion of inheritance tax during political shifts in the country. Nonetheless, he emphasised that despite the source of income, be it through inheritance or otherwise, tax payment remains a…