- Asialaw 2023-24 Ranking
- Beginning in 2024, foreign income earned the year before and imported into Thailand the following year will no longer be exempt from Thai personal income tax.
- JTJB 2023 JULY Global Network Gazette
- The 2023 Benchmark Litigation Asia-Pacific Rankings
- WHY BOI IS THE BEST OPTION FOR FOREIGN DIRECTLY INVESTMENT IN THAILAND?
- ASIA BUSINESS LAW JOURNALS 2023 THAILAND LAW FIRM AWARDS
- JTJB INTERNATIONAL LAWYERS IS RANKED AS LEADING FIRM IN LEGAL 500 ASIA PACIFIC 2023
- JTJB Internship Program 2023
- JTJB International Lawyers and AWP & Alliance Merger Announcement
- The A-List of Thailand top’s 100 lawyers by Asia business law journal
New Land and Building Tax of Thailand
Who has to pay land and building tax?
Under the new Land and Building Act B.E. 2562 (LBA), any individual and juristic person both Thai and foreigners who have ownership, possessory, or usage rights over land, buildings, houses, apartments and condominium units, as of January 1 of each year, are required to pay land and building tax to the municipal offices. If land and buildings are separately owned by different person, the person having the title over either the land or building is liable for paying land and building for such properties.
Taxable properties
LBA will apply to the land, condominiums, apartments, buildings, including houses, or any construction which can be used as a residence or for storage, industrial or commercial purposes. The land and building tax will commence to be collected from 1 January 2020 onward.
Tax Base
The base for calculating the land and building tax is the official assessed price of the land, buildings, or condominium units as determined by the governmental authority for the purpose of collecting registration fees under the current Land Code. In the case where there is no appraised value, the tax base will be calculated in accordance with the criteria, method and conditions as prescribed in Ministerial Regulations.
The actual land and building tax rate that authorities will collect will be announced by royal decree in due course, subject to the fixed maximum rates, exemptions, and transition period rates outlined below
Tax Rates
The land and building tax rates shall be specified in a Royal Decree, but shall not exceed the maximum tax rates, which are as follows: