Reduction of land and building tax by 90% for 2020
On 10 June 2020, a Royal Decree on reducing taxes on certain types of land and buildings was published in the Government Gazette and became effective on the following day. The purpose of the reduction is to alleviate tax burdens on people and entrepreneurs affected by the COVID-19 outbreak.
Keywords: Mazars, Thailand, Land and Building Tax, Royal Decree, Government Gazette, COVID-19
30 June 2020
Under the Royal Decree, tax on the following land and buildings shall be reduced by 90% of the amount calculated under the Land and Building Tax Act, B.E. 2562:
- Land or buildings for agricultural use
- Land or buildings for residential use
- Land or buildings for uses other than under points 1 and 2
- Vacant or unused land or buildings
Therefore, owners of the above land or buildings are required to pay only 10% of the land and building tax due for 2020. Based on an announcement by the Ministry of Interior on 11 December 2019 regarding the collection of this tax, the tax due must be paid by August 2020.
The reduction will apply only to 2020.