The Finance Ministry is considering the private sector's proposal to delay and reduce collection of the land and building tax because businesses are struggling with the double whammy of the impact of the pandemic and the Russia-Ukraine war, says minister Arkhom Termpittayapaisith. In 2020, the government issued a 90% cut to the land and building tax to ease the burden on owners of land and building sites because of the severe impact of the pandemic. A ministry source who requested anonymity said the ministry is concerned a delay or cut of this tax could affect the local administrations' revenue. Though this year landowners have to resume paying the full amount, the land and building tax law still offers a payment discount this year. Regarding the tax discount rules, if landowners are assessed a tax higher than the amount calculated under the previous land tax, they are allowed to pay the previous tax rate.

Source: Bangkok Post May 30, 2022 09:53 UTC