Post by Sapphire Capital on Mar 20, 2021 22:45:19 GMT 4
The Royal Decree on Land and Building Tax Reduction (No. 2) B.E. 2564 has been officially promulgated. The royal decree, which was announced and published in Thailand's Government Gazette on January 31, 2021, and came into effect the following day, will effectively reduce land and building tax payments by 90% in 2021 for the following types of land and buildings:
Land or buildings used for agricultural purposes; Land or buildings used for residential purposes; Land or buildings used for other purposes; and Vacant or unused land or buildings.
Owners of the above types of land or buildings are therefore only required to pay 10% of the land and building tax normally owed for 2021.
The royal decree follows the Ministry of Interior's recent announcement of an extension for the payment of land and building tax in 2021, which will now be due by June 30, 2021 (extended from April 30, 2021).
General information only, this is no legal or financial advice or legal opinion and no solicitation or offering of services. Use of posted information should be contingent on your counsel advise on a case by case basis.