Thailand Land and Buildings Tax Proposal
Update | March 2017
On 21 March 2017, the Thailand Government resolved to approve an amended draft of the proposed new Land and Buildings Tax Bill (as proposed by the Council of State). This Tax Insight Article has been updated for the Council of State's revisions.
Tax Insight | June 2016
On 7 June 2016, the Government resolved to adopt a drafted Land and Buildings Tax Act and Royal Decree law for introducing a new Land and Buildings Tax to replace the current House and Land Tax and Local Development Tax. This Tax Insight Article summarizes the drafted Land and Buildings Tax Act.
Land, buildings and condominium units.
The property's appraised value for the registration of rights under the Land Code.
Exemptions from the Land and Buildings Tax will be provided for:
The proposed rates of tax (as revised by the Council of State) are as follows:
The transitional provisions will prescribe that the House and Land Tax Act and the Local Development Tax Act, which will be repealed by the new Land and Buildings Tax Act, shall remain in force for collections and refunds of tax that are payable or refundable before the date of commencement of the new Land and Buildings Tax Act.
This is a general information Tax Insight Article only. It should not be used to determine any particular matter without consulting with your experienced Thailand tax advisor.