Draft bills on the land and buildings tax, amendments to the excise tax and customs code and the launch of a long-awaited National Savings Fund will seek cabinet approval this month.
The three draft bills, if they come into force, will foster fairness among taxpayers, bolster state coffers and modernise the tax system, Deputy Finance Minister Wisudhi Srisuphan said.
"Our revenue will rise after the amended excise tax code is endorsed even if we have not adjusted excise duty rates," he said.
"The higher revenue will come from a change in the excise tax base to state-recommended retail prices.
"We need to weigh the appropriateness of the rates to strike a balance among government revenue, producers and consumers."
If the amended law gets the green light, the Excise Department can then charge the tax for both local and imported products at a single base.
The current excise tax is based on ex-factory prices, allowing manufacturers to understate such prices in order to pay less duty.
The draft land and buildings tax sets maximum rates of 0.5% on land for agricultural use, 1% for residential use and 4% for commercial use.
Unused or vacant land will be charged at a progressive rate every three years, not exceeding 4% of appraised value.
The tax exemption for land and buildings is anticipated at 2 million baht worth of the appraisal price.
The tax will replace the local development tax and the house and land tax, which critics say are regressive and based on outdated appraisal prices.
Separately, Mr Wisudhi said government revenue in the first four months of fiscal 2015 surpassed its target by 1.1 billion baht and was 5 billion higher year-on-year.