Treasury mulls cuts in rental fees

Treasury mulls cuts in rental fees

The Treasury Department could reduce rental fees for 30-50 business lessees of state properties to mitigate Covid-19 impact.

Many businesses have submitted letters to the Treasury Department requesting a reduction in rental fees by 50%, said director-general Yuttana Yimgarund.

Airports of Thailand Plc, Phuket Ferry and various small and medium-sized enterprises operating in the hotel sector are some of the businesses requesting a rental fee reduction.

Some business lessees have also asked for an exemption from rental fees, Mr Yuttana said.

The Treasury Department will assess whether these requests can be approved in accordance with state property rental rules, he said.

A 30-40% cut in rental fees could apply in cases where business lessees still generate some income, while a 50% reduction could be used for those receiving no income from operations, Mr Yuttana said.

Rental fee exemptions could be attached to a condition to retain existing employment, he said.

The decision on whether to approve rental fee reductions is likely to be finalised in September.

The Treasury Department is maintaining its revenue collection target of 8.7 billion baht, with year-to-date revenue collection already exceeding the target at 10 billion baht.

Despite deferral of rental fees from some state properties, the department's proactive management of state properties and rental fees generated from special economic zones has compensated for the deferral portion.

For fiscal 2021, the department is keeping its revenue collection target unchanged at 9.2 billion baht, as the amended Ratchaphatsadu Land Act will compel state-owned enterprises to pay rental fees to the department.

Do you like the content of this article?

Streets empty on Myanmar coup anniversary

Streets emptied and shops closed in protest across Myanmar on Wednesday, the second anniversary of the coup that toppled Aung San Suu Kyi’s government, with the junta hinting it may extend a state of emergency and delay new elections.


Tourists extorted by police safe from prosecution for bribery

Tourists extorted by police will be safe from prosecution even though they paid a bribe, including holidaying Taiwanese actress Charlene An who alleged she was extorted for possession of an e-cigarette at a Bangkok checkpoint last month, a senior Bangkok police officer said on Wednesday.


Dust levels unsafe in 53 provinces, including Bangkok

PM2.5 dust levels above the safe limit of 50 microgrammes per cubic metre were reported in 53 provinces across the country, including Bangkok and its suburbs, on Wednesday morning.