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New Land and Building Tax collection to start in 2020 in Thailand

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The Thai Government recently published in its Royal Gazette the new Land and Building Tax Act B.E. 2562 (2019), thus replacing the rather outdated House and Land Tax B.E. 2475 (1932).

Under the new Act, individuals or companies with ownership and/or rights of use over lands and buildings (including condominium units) as at 1st January of each year shall pay a Land and Building Tax to their local district office within April of each year.

The official assessed price of the land, building, or condominium unit, as determined by the government authority for the purpose of collecting registration fees under the current Land Code, will be used as the basis for calculation of the land and building tax. 

Residential tax rates

Category of LandLegal Ceiling Rate (%)Appraisal Value (THB)Applicable Rate (%)
Residential0.30 – 50 million
> 50 – 75 million
> 75 – 100 million
> 100 million
0.02
0.03
0.05
0.1

Residential Tax exemptions

Tax exemption for first home buyers for owners of both land and home worth up to THB 50 million and if owner’s name appears on house registration book

Tax exemption for owners of home (not land) worth up to THB 10 million and if owner’s name appears on house registration book

Agricultural land tax rates

Category of LandLegal Ceiling Rate Appraisal Value (THB)Applicable Rate (%)
Agricultural0.15 %0 – 75 million
>75 – 100 million
>100 – 500 million
>500 – 1,000 million
> 1,000 million
0.01
0.03
0.05
0.07
0.1

Tax exemption for lands worth up to THB 50 million owned by individuals

In addition, individual owners who use the land, or building, for agricultural purposes will be exempt for the first three years of tax collection under the Act.

The tax collection shall be effective 1st January 2020.

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