The land and buildings tax bill is unlikely to be scrapped but public hearings on possible negative impacts are required before the National Legislative Assembly (NLA) moves ahead with its deliberation, NLA deputy chairman Surachai Liangboonlertchai has said. Public input is needed on controversial aspects of the bill, particularly the part that requires landlords to pay tax on land they rent out to others. The bill is being scrutinised by an NLA standing committee after recently being passed in its first reading. The new property tax will replace the outdated house and land tax and the local development tax. As for the tax bill proposed by the Finance Ministry, it calls for the tax to be levied on first-home owners and farmland appraised at more than 50 million baht.

Source: Bangkok Post January 01, 2018 20:48 UTC