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The tax on land and property in Thailand, when and how much will need to pay

22-11-2016

 Thai Finance Minister announced that the real estate tax law will not come into force in January 2017, as originally planned. The new collection will be operational in 2018, reports the Bangkok Post.

 

Taxes for property owners and land was the subject of high-ranking officials of discussions. That is why, according to the Minister, impose fees until 2018.

The bill divides the immovable property into 4 categories: land for agriculture, residential property, commercial property, vacant land. Each category will have its own tax rate: land for agriculture - 0.2%; residential buildings - 0.5%; commercial facilities - 2%; vacant land - 5% .Po According to the minister, the highest rate for the vacant land is not accidental: since the government wants to motivate the owners to build up faster sections.

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