Land tax gets yet another revamp

Ask here about the pleasures and pitfalls of buying, selling or renting property and real estate in Hua Hin. Building, design and construction topics welcome. Commercial or promotional posts for real estate companies or private properties are forbidden.
SPONSORS: Hua Hin Property
Post Reply
User avatar
Posts: 16773
Joined: Tue Dec 31, 2002 12:25 pm
Location: south of sanity

Land tax gets yet another revamp

Post by buksida » Fri Sep 01, 2017 2:10 pm

The National Legislative Assembly (NLA) is likely to rework a draft bill on the land and building tax after it assigned the Finance Ministry to consider whether taxpayers can afford the new tax bills.

The NLA's subcommittee on the land and buildings tax designated the Finance Ministry to conduct a survey of potential payers for the new property tax to determine the comparative tax burden between the proposed land and buildings tax and the current local development taxes, said Deputy Finance Minister Wisudhi Srisuphan.

Even though the cabinet approved a bill on the land and buildings tax in March, the much awaited bill is still stuck in NLA deliberation as lawmakers have questioned whether a 50-million-baht ceiling for the tax exemption for first homes is too much and should be lowered to widen the number of taxpayers.

NLA members thought the waiver is unfair because those who own more than one residence are subject to the tax even if their homes' combined value is less than the 50-million-baht threshold for the first home. The Finance Ministry has voiced concerns that lowering the tax exemption amount may reignite strong outcry from the public.

Full story: ... her-revamp
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson

Post Reply

Who is online

Users browsing this forum: Dannie Boy, lomuamart and 2 guests