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BANGKOK: Thailand on Tuesday (Might 10) authorised a tax break for actual property funding trusts to spice up liquidity for operators hit by the pandemic, a senior official mentioned.
Actual property funding trusts or REITs buybacks can be exempt from tax and are anticipated to generate re-investment of about 30 billion baht (US$868.06 million) within the trade, mentioned a authorities spokeswoman, Traisulee Traisoranakul.
The federal government will lose about 10.4 billion baht in tax income and charges, she mentioned.
The property sector, which contributed about 6 per cent of GDP in 2019, slowed as a result of pandemic and commenced recovering this yr.
Up to now, eight REITs have expressed curiosity within the new tax breaks together with trusts in inns and amusement parks, mentioned Traisulee.
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