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The Thai government has approved new taxes on the land

12-06-2016

 The tax rate was raised to 0.2% of the appraised value of the land used in agriculture, 0.5% for plots for housing stock, 2% of land commercial and industrial use. For undeveloped land proposed maximum rate - 5% during the first 3 years. And if the site is not to be used in the next 3 years the rate will double, writes Bangkok Post.

The bill proposes to levy tax on agricultural land assessed value of more than 50 million baht. Earth, reviewed below, are exempt from collection.

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