A royal decree regarding Thailand’s land and building tax reduction for 2023 was issued in March. This became official when the Government Gazette published an announcement stating the land and building tax due will be decreased by 15 percent in 2023. Land plots eligible for a previously confirmed 50 percent tax break were eligible for this as well, essentially meaning these plot owners will receive a...
New land appraisal prices in Thailand are already in the works with the Treasury Department planning to roll out the list for 2023-2026 at the start of next year. This was originally slated to happen in 2021 but was delayed because of the COVID-19 pandemic. “The new land appraisal price list which will come into effect next year was made two years ago as the announcement had been postponed due to the...
The Bangkok Metropolitan Administration (BMA) wants to close land tax loopholes that have seen some owners turn their holdings in prime areas into makeshift banana and lime farms. This allowed them to enjoy the agricultural land tax rate of 0.01-0.1 percent as opposed to the 0.3-0.7 percent applied to undeveloped commercial plots. A source at the BMA told the Bangkok Post that up 12,000 land plots in...
by Asia Land For Sale