Individuals or companies owning buildings or land with buildings put to commercial use or on lease must file their annual house and land tax return (PRD. 2) by 28 February 2014 at the local district or municipality where the land and building are located.
Keywords: Mazars, Thailand, Tax, Legal, House and Land Tax
29 January 2014
Tax must be paid at the rate of 12.5% of the actual or imputed annual rental value within 30 days from the date of receiving the assessment notification.
Failure to file a tax return would result in a fine of 200 Baht. Furthermore, the delay in paying tax would subject the property owner to a penalty of 2.5% - 10%.
Please note that a building or land with building which is not put to commercial use or is closed for the whole year is exempt from house and land tax.