Property developers want tax reductions to be extendedAn aerial view of buildings in Bangkok from Baiyoke Sky Hotel. (Photo: Arnun Chonmahatrakool)Real estate developers are calling for an extension of the 90% reduction in the rate of the land and building tax as the impact on the sector remains severe. "Many people misunderstood that maintaining the land and building tax rates was about a 90% reduction which the government previously offered in 2020. But actually, it means maintaining the rates for tax calculation which ranged from 0.01-0.7%," he said. Mr Issara also suggested the establishment of a committee to review the structure of the land and building tax as the current scheme is unreasonable, impractical and still avoidable if there is good tax planning.

Source: Bangkok Post January 18, 2022 01:54 UTC