Last week the Ministry of Finance revealed it was exploring a better way to tax people. Its plan aims to revamp the tax structure by raising the ratio of asset- and consumption-based taxes, rather than heavily relying on income tax.
The move, if and when approved, would help top up the country's already depleting state coffers and keep the economy going.
Somchai Sujjapongse, permanent secretary for finance, said this plan was being contemplated as the demographic structure of Thailand was edging towards an aged society.
