The Thai cabinet on Tuesday gave an approval to extend tax measures aimed at stimulating property sector in the country for another year, until March 28, 2010, according to a government spokesperson, but failed to consider a measure to offer relief and assistance to the rising numbers of foreign tourists and business travellers stranded in Thailand.
The Cabinet did not consider a request to approve an allocation of Bt1 billion to help foreign travellers stranded in Thailand and Thai tourists caught overseas because of the airport closure.
Under the tax measure extensions, the special business tax collected on business will be reduced to 0.1 per cent from the current 3.3 per cent, while the real estate transfer registration and mortgage fees will be reduced to 0.01 per cent.
The green light was given by the cabinet only hours before the Constitution Court gave its ruling on dissolving three political parties, including the People Power Party headed by Prime Minister Somchai Wongsawat, on fraud charges during a general election held in December last year.
Senior executives of the three parties, including Mr. Somchai, will not be allowed to participate in any political activities for five years.
