Thailand Current House and Land Tax
Thailand's current land tax law is called the "House and Land Tax". It is not a tax on property values, but instead, is a tax that is levied by local authorities on income earned from renting out or leasing out properties.
Properties under the House and Land Tax include:
In the case of industrial or commercial buildings or houses situated on land, which is under the ownership of another person, the owner of the buildings or houses is liable to the local authority for the House and Land Tax.
The rate of tax is 12.5% of the "annual rental value".
Annual Rental Value
The annual rental value that is received during a year is required to be declared to the local authority by the owner of the property.
However, the local authorities have the power to re-assess the declared annual rental value by a comparison with the annual rental value of other similar properties. The local authority also has the power to use an annual rental value of a previous year for a subsequent year.
Properties exempt from the tax include:
This is a general information Tax Insight Article only. It should not be used to determine any particular matter without consulting with an experienced Thailand tax advisor.