On 26 January 2021, the Cabinet approved a draft Royal Decree on reducing taxes on certain types of land and buildings. The purpose of the reduction is to alleviate the tax burden on people and entrepreneurs affected by the COVID-19 outbreak.
Keywords: Mazars, Thailand, Tax, Royal Decree, COVID-19, Land and Building Tax Act
22 February 2021
Under the draft 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 2021.