The chamber has received from our corporate member Tilleke & Gibbins the following update regarding notification about Land and Building Tax Reduction (No. 2) B.E. 2564
The Royal Decree on Land and Building Tax Reduction (No. 2) B.E. 2564, which we previously noted was under consideration, has been officially promulgated. The royal decree, which was announced and published in Thailand’s Government Gazette on January 31, 2021, and came into effect the following day, will effectively reduce land and building tax payments by 90% in 2021 for the following types of land and buildings:
- Land or buildings used for agricultural purposes;
- Land or buildings used for residential purposes;
- Land or buildings used for other purposes; and
- Vacant or unused land or buildings.