Rules leading to the introduction of real estate investment trusts (REITs) usually set for initial coming year that will might run after program, just like a rule associated to tax inducements for the funds that has success in problem.
It was stated by the Chalee Chantanayinhyong who is the deputy secretary-general of the Office of the Securities and Exchange Commission (SEC) that tax problems regarding a 7% value-added tax (VAT) as well as bonus tax is the key anxieties placing REITs at a shortcoming to property funds that have not been established.
He stated that no business is useful to present a REIT, containing Impact Exhibition Management, the battleship of Bangkok Land Plc. (BLAND). Impact lately proclaimed a strategy to introduce the first REIT of country, the 20-billion-baht Impact Growth REIT. Agreeing to the SEC, innovative property funds will no longer be launched after contentment of the REIT rule.
Though the REIT rule that is appropriate to be behind and the limit for initiating a different property fund could be protracted, businesses deficient to increase funds from property possessions and can still make strategies at the end of the year methodologies. In the run-up to REIT rules, some other property designers like, TCC Group, CP Land and Dusit Thani Home Product Center proclaimed policies to increase capital via property funds and also growth in their current property size of funds. This source is projected to hit 100 billion baht.
- Residential Rents for Expatriates in Bangkok is Expected to Increase
- Certain Buyers Left Dissatisfaction as Thai Developers Fail to obtain EIA Approval
- Rates of Housing Units increases to 48% during 4 Years
- Developers welcome the ideas of Finance Ministry to Tax the Vacant and New Land
- No Risk of Property Bubble in Thailand