The draft bill calls for tax to be levied on first homes, farmland, commercial land and buildings, and vacant land. However, the government's own statistics show that there are approximately 11,000 homes worth more than 50 million baht each, while the rest, 96.5% of homes, are worth less than 5 million baht each. That equals about 159,000 people, from a total of 15.9 million landowners, owning 22.52 million rai of land, from a total land area of 94.86 million rai. Last year, the NLA approved the new inheritance tax, introducing a 5% tax rate on inheritances worth above 100 million baht on direct descendants. It then increased the taxable amount from a previously proposed level of 50 million baht to 100 million baht.

Source: Bangkok Post July 19, 2017 21:33 UTC