Understanding Thailand's Land and Building Tax: A Comprehensive Guide

As of January 1, 2020, Thailand implemented new land and building tax laws, which have left many property owners feeling confused and uncertain. To address these concerns, we’ve compiled a detailed guide to help you navigate through the complexities of this new tax system.

Extension of Tax Collection to 2024

The Ministry of Interior has extended the deadline for implementing the Land and Buildings Tax Act B.E. 2019 to 2024. Here’s a breakdown of the updated deadlines:

Preparation of taxpayer lists by local government organizations: November 2023 to January 2024.

Announcement of estimated land and building values: Before February 1, 2024, to before April 1, 2024.

Tax assessment report submission to taxpayers: February 2024 to April 2024.

Deadline for taxpayers to pay taxes: April 2024 to June 2024 (in three installments).

Deadline for notification of outstanding taxes: Before May 2024 to before July 2024.

Reporting of outstanding tax items to the Land Office: June 2024 to August 2024.

Who is Responsible for Paying Land Tax?

• Landowners, building owners, or condominium owners named in the title deed.
• Tenants of state-owned property, even if not the landowner.
• Individuals in possession or use of the land or building as of January 1 of the tax year.

The land and building tax rates for 2024 are as follows:

Agricultural Land:

Natural Person Owners:

• Exempted if value ≤ 50 million baht.
• 0.01% for value > 50-125 million baht.
• 0.03% for value > 125-150 million baht.
• 0.05% for value > 150-550 million baht.
• 0.07% for value > 550-1,050 million baht.
• 0.1% for value > 1,050 million baht.

Legal Entity Owners:

• 0.01% for value ≤ 75 million baht.
• 0.03% for value > 75-100 million baht.
• 0.05% for value > 100-500 million baht.
• 0.07% for value > 500-1,000 million baht.
• 0.1% for value > 1,000 million baht.

Housing:

Main House (Owner on Land Title):

• Exempted if value ≤ 50 million baht.
• 0.03% for value > 50-75 million baht.
• 0.05% for value > 75-100 million baht.
• 0.1% for value > 100 million baht.

Main House (Not Land Owner):

• Exempted if value ≤ 10 million baht.
• 0.02% for value > 10-50 million baht.
• 0.03% for value > 50-75 million baht.
• 0.05% for value > 75-100 million baht.
• 0.1% for value > 100 million baht.

Subsequent Houses or Unlisted:

• 0.02% for value ≤ 50 million baht.
• 0.03% for value > 50-75 million baht.
• 0.05% for value > 75-100 million baht.
• 0.1% for value > 100 million baht.

Commercial Land:

• 0.3% for value ≤ 50 million baht.
• 0.4% for value > 50-200 million baht.
• 0.5% for value > 200-1,000 million baht.
• 0.6% for value > 1,000-5,000 million baht.
• 0.7% for value > 5,000 million baht.

Vacant Land:

• 0.3% for value ≤ 50 million baht.
• 0.4% for value > 50-200 million baht.
• 0.5% for value > 200-1,000 million baht.
• 0.6% for value > 1,000-5,000 million baht.
• 0.7% for value > 5,000 million baht.

Late Payment Penalties

Failure to pay taxes on time will result in penalties:

10% if paid before receiving a notice.

20% if paid within the specified notice period.

40% if paid after the notice period.

Additional 1% per month after the notice period (up to the amount of tax payable).

Clarification of Guidelines

• Rented housing is taxed at residential rates.
• Guidelines for residential property use have been clarified to distinguish between residential and commercial purposes.
• Automatic notifications for property use changes have been implemented, eliminating the need to visit district offices

Understanding Agricultural Land

• Criteria for determining agricultural land include various types of crop cultivation, animal husbandry, aquaculture, and more.
• Vacant land is taxed based on its classification and use.
• Paying land and building taxes may seem complex, but it’s a legal obligation under Thai law. By understanding these regulations, you can ensure compliance and avoid any penalties.

Ready to start your investment journey?

Explore 𝗦𝗠𝗔𝗥𝗧𝗦𝗖𝗔𝗣𝗘 𝗥𝗘𝗦𝗜𝗗𝗘𝗡𝗖𝗘𝗦: 𝗬𝗼𝘂𝗿 𝗚𝗮𝘁𝗲𝘄𝗮𝘆 𝘁𝗼 𝗣𝗿𝗶𝗺𝗲 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁𝘀

Resale Invest Project by Siam World Estate Co., Ltd.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗽𝗿𝗼𝗷𝗲𝗰𝘁 𝗯𝗿𝗼𝗰𝗵𝘂𝗿𝗲 𝗰𝗹𝗶𝗰𝗸 https://shorturl.at/jouV5

𝗝𝗼𝗶𝗻 𝗼𝘂𝗿 𝗶𝗻𝘃𝗲𝘀𝘁𝗼𝗿 𝗰𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝘆 for maximum benefits and update with Bangkok property investment in real time 𝗖𝗹𝗶𝗰𝗸 : https://forms.gle/DzW7ZsKv4hQE9rGq5

𝗙𝗼𝗹𝗹𝗼𝘄 𝘂𝘀 𝗼𝗻 𝗦𝗼𝗰𝗶𝗮𝗹 𝗠𝗲𝗱𝗶𝗮𝘀 : https://linktr.ee/naowaratsiamworldestate

𝗖𝗼𝗻𝘁𝗮𝗰𝘁 𝘂𝘀 for further discussion and visiting property at +66 61 162 8791 (Call/Line/WhatsApp) or info@siam-estate.com.