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boi to reconsider condo tax-break criteria

Somluck Srimalee The Nation
boi to reconsider condo tax-break criteria - Board of Investment - reconsider - condo - tax - developers - encouraging

The Board of Investment (BoI) will consider a request from condominium developers that it adjust its criteria for granting tax privileges aimed at encouraging projects in central business districts.

To be eligible for tax privileges, condominium projects must not be priced at more than Bt1 million per unit; each unit must have not less than 28 square metres of utilisation space; and the project must feature not less than 50 units. These criteria have been in effect since June 10.

For low-rise residential projects, the BOI will grant tax privileges to projects priced at not over Bt1.2 million per unit, up from Bt600,000 per unit under the previous rule, with total utilisation space of not less than 70 square metres per unit.

However, at the "New Rule of BOI Housing Project" seminar hosted by Krungthep Turakij last week, condominium developers said the criteria made it hard for them to apply for privileges.



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