27 March 2019
The Thai Government recently published in its Royal Gazette the new Land and Building Tax Act B.E. 2562 (2019), thus replacing the rather outdated House and Land Tax B.E. 2475 (1932).
Under the new Act, individuals or companies with ownership and/or rights of use over lands and buildings (including condominium units) as at 1st January of each year shall pay a Land and Building Tax to their local district office within April of each year.
The official assessed price of the land, building, or condominium unit, as determined by the government authority for the purpose of collecting registration fees under the current Land Code, will be used as the basis for calculation of the land and building tax.
The tax collection shall be effective 1st January 2020.