Sugar, green tax on the menu

An excise tax may be imposed on food and drinks with high sugar content and environmentally unfriendly products such as lubricants.

The measure is part of the ministry's tax revamp proposal to increase state revenue and expand the base of sin tax, currently imposed only on cigarettes and liquors.

Corporate income tax for small and medium-sized enterprises with profits of 1-3 million baht a year may also be cut to 15% from 20% currently.

A Finance Ministry source told Post Today on Saturday the permanent secretary and the directors general of three tax-collecting departments had already submitted the proposal to the NCPO.

In one year, the Board of Investment's tax privileges would be scaled down since the corporate income tax cut had already been cut to 20%.

Signboard taxes will be changed while the diesel excise tax will gradually be increased to the normal rate.

These measures are expected to bring in 80-90 billion baht more revenue each year.

In the longer term, waivers and deductions will be reviewed.

The land and building tax draft will also be pushed through.

The National Council for Peace and Order (NCPO) is considering revamping the entire tax system for fairness to all groups of taxpayers.

The move aims to allow the government to provide welfare more thoroughly and fairly.

"At present, we have yet to take concrete action on taxes. State revenue collections have failed to meet target, which is a concern," said Gen Prayuth Chan-ocha in a nationwide televised address on Friday.

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