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Property developer’s Facebook post highlighting ‘green image’ backfires

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A Facebook post by a popular property developer, apparently aimed at boosting its “green image”, appeared to backfire when it drew ridicule from many social networkers who commented in other words that the company was allegedly trying to avoid paying land tax.

A post by Impact's Exhibition Management on its Impact Arena, Exhibition and Convention Centre Facebook page boasted on Monday that the company had turned an unused 50-rai plot in a Muang Thong Thani lakeside area into a banana plantation or “green” area.

The company manages the Impact Arena Exhibition Centre and Muang Thong Thani housing estate.

“Let’s take a look at the 50-rai banana plantation near Muang Thong Thani Lakefront,” the post began.

“Everyone who has passed the Tiwanon Road exit might have noticed the changes at the lakeside. Originally, the area opposite Double Lake Condominium was deserted but now it has changed into a banana plantation with more than 10,000 trees.”

It said bananas from the plantation would be supplied to Impact Kitchen.

Property developer’s Facebook post highlighting ‘green image’ backfires “As our CEO wants to make use of the 50-rai land plot near Muang Thong Thani Lakefront, the Project Management Department, Exhibition Project Department and City Management Department have been assigned the task of planting banana trees to supply Impact Kitchen,” the post went on.

“This agricultural project started at the end of last year. Our banana trees will grow and we believe they will produce fruit for us soon.”

Property developer’s Facebook post highlighting ‘green image’ backfires The post received more than 5,000 reactions by Wednesday afternoon and was shared over 2,800 times.

But it drew more than 2,000 comments, mostly negative.

Most comments alleged that the project was aimed at sidestepping expensive land tax by turning an unused plot into an agricultural one that has a much lower land tax rate.

“I got it. The tax will be cheaper,” commented Kittipong Boonthong.

“So funny,” Sasinee Taptimthong said.

“The cost of planting bananas is cheaper than the tax, right? Hehe,” said Mo Na.

“People have got the true meaning,” commented Araya Patcharapa.

Property developer’s Facebook post highlighting ‘green image’ backfires Taking into account the lowest rate of the median land price of THB30,000 per square wah according to the Nonthaburi land office, the 50-rai plot should be valued at a minimum THB600 million.

The tax for unused land is 0.3 per cent per year of the land value, so tax for this kind of plot should amount to around THB1.8 million. But agricultural land is taxed at only 0.01 per cent per year, so tax on the plot would be THB60,000.

The government had announced that it would collect land tax on unused land in full without reduction this year.

Bananas are one of nine crops allowed to be cited as a plantation eligible for the agricultural land tax rate.

Published : May 25, 2022

By : THE NATION