Wealth Tax urged to cope with effects of ageing society
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The government should consider taxing people's wealth in preparation for the greying of society.
Somchai Sajjapongse, director-general of the Fiscal Policy Office, said that if the government agrees with this proposal, the tax structure must be changed within five years, as revenue from the personal income tax will decline in tandem with the rising median age of the working population.
Unused land might be the first to be taxed to avoid stretching low-income earners, he said, referring to his discussion with the finance minister on this idea.
