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recently published in its Royal Gazette the new Land and Building Tax Act B.E. 2562 (2019), thus replacing the rather outdated House and Land Tax B.E. 2475 (1932).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 Land||Legal Ceiling Rate (%)||Appraisal Value (THB)||Applicable Rate (%)|
|Residential||0.3||0 – 50 million|
> 50 – 75 million
> 75 – 100 million
> 100 million
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 Land||Legal Ceiling Rate||Appraisal Value (THB)||Applicable Rate (%)|
|Agricultural||0.15 %||0 – 75 million|
>75 – 100 million
>100 – 500 million
>500 – 1,000 million
> 1,000 million
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.
Sexual harassment at work and the “culture of silence” in Thailand
After several years of negotiation, Thailand finally has the first international standard related to violence and sexual harassment.
Foreigners’ Participation in Thai Listed Companies explained
Special vehicles have been created to facilitate foreign investors so that they are able to invest in Thai
securities flexibly and conveniently.
Thailand’s Latest Tax Relief Package for Businesses
Thailand’s government has issued its latest tax relief package to assist businesses impacted by the pandemic that includes the reduction of land and building tax by 90 percent for 2021, in addition to extending the filing deadline for personal, value-added, and withholding tax.
Subscribe via Email
Bangkok falls 19 places to 49th most expensive location worldwide
Locations reliant on international tourism have seen their rental markets hit especially hard during the pandemic, resulting in some major...
Thai fruit exports to FTA markets up 107 percent
China, Malaysia, Singapore, Indonesia, the Philippines, Hong Kong, Australia and Chile are top importers of Thai fruits, especially fresh durian,...
Digital Revolution and Repression in Myanmar and Thailand
Activists have also proactively published social media content in multiple languages using the hashtags #WhatsHappeningInMyanmar and #WhatsHappeningInThailand to boost coverage...
3 Reasons to Be Optimistic About the Baht Right Now
Probably one of the most important factors for the rise of the Baht is the continued weakness of the US...
Will Thailand’s plan for quarantine-free tourism set a global trend?
According to the Tourism Authority of Thailand, the quarantine-exemption measures implemented in Phuket will be extended to five other key...
Thailand Approves Latest Economic Relief Package for Businesses
Some 250 billion baht (US$8 billion) was allocated for soft loans while the remaining 100 billion baht (US$3.2 billion) will...