A new tax law which will enable the Revenue Department to collect tax from land owners who are to benefit from transport infrastructure development projects is a novel idea by the Finance Ministry.
As a matter of principle, such a measure, though it will not bring in as much money to the state as thought, is indeed fair as some landlords do stand to reap a windfall from those development projects that make use of taxpayers' money such as airports, expressways and rail systems.
Those liable for the tax must possess land within a radius of five kilometres of a station serving high-speed, double-track or electric trains, or the on- or off-ramp of an expressway. Those who own plots within 5km of building-restricted zones such as airports or ports will also be required to pay the tax.
