Newsfeed

Property-tax collections jumped 16.1 per cent year on year in September, when the proposal for an inheritance tax was still unclear and transactions were high, but fell 4.4 per cent in October, according to the Fiscal Policy Office.

Kritsada Jinavijarana, director-general of the FPO and spokesman for the Finance Ministry, said yesterday that property transactions now remained steady at the normal level because of certainty over the inheritance tax.

Bond movement

Foreign investors continue purchasing long-term Thai bonds on expectations for a steady local interest rate and a downward trend, while companies take a wait-and-see stance on interest rates, postponing issuance of their planned debentures, according to the Thai Bond Market Association.

From November 1-21, net capital outflow from the Thai bond market totalled Bt6.7 billion, as Bt11.7 billion moved out of short-term bonds while Bt5 billion moved into long-term bonds, Suchart Thanatsitiphan, deputy director of the ThaiBMA, said yesterday.

This year to date, foreign capital worth a net Bt28.4 billion has exited the Thai bond market, representing Bt87.6 billion moving out of short-term bonds and Bt59.2 billion moving into long-term bonds.

Foreign holdings of Thai bonds total Bt681 billion, of which 88 per cent is long-term and 12 per cent short-term.