Thailand’s New Land and Building Tax Act

Written by Mr. Phongnarin Ratanarangsikul
The Land and Building Tax Act was published in the Governmental Gazette on March 12, 2019, and starts to impose tax from January 1, 2020 onwards.

Land and building owners, as of January 1st of any taxable year, will be taxed at progressive rates on the values of these assets as appraised by the Treasury Department. Tax rates on land and buildings will vary depending on their use – agricultural, residential, commercial, or unused.

The new tax regime, replacing the Household and Land Tax Act and the Local Land Development Tax Act, is expected to significantly affect owners, especially those holding land and buildings for commercial purposes. The new law provides certain relaxations from 2020 to 2022.

We provide calculation steps for owners of commercial land and buildings to estimate their tax liabilities in order to effectively plan their taxes for these assets.

Author’s Note:

DRKI prepares a Land and Building Calculation Sheet for estimating taxes due under the new Land and Building Tax Act. This is available upon request and is free of charge. The figures shown from the calculations are estimates only. Actual amounts of tax due depend on the accuracy of data used during calculations and the assessment conducted by the Assessment Officers.

To request a Land and Building Calculation Sheet, please contact us at admin@drkilaw.com or your contact person at DRKI.
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