Land and buildings tax to get chop - News Summed Up

Land and buildings tax to get chop


The prime minister says the overall public is not ready for the full land and buildings tax. The new land and buildings tax took effect at the start of this year and collections were scheduled to begin in April. Residences with an appraised value of more than 10-50 million baht are charged 0.02%, more than 50-75 million baht at 0.03%, more than 75-100 million baht at 0.05% and more than 100 million baht at 0.1%. The prime minister acknowledged that the lower land and buildings tax rates will affect the revenue collection of local administrative organisations. Supant Mongkolsuthree, chairman of the Federation of Thai Industries, said earlier that the land and buildings tax would need to be postponed because individuals and businesses were in no position to pay the tax amid the pandemic.


Source: Bangkok Post June 02, 2020 23:26 UTC



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