Land and building tax discount in effect for 2022

The land and building tax is still offering a payment discount this year according to the law passed to ease the burden on landowners, says Finance Minister Arkhom Termpittayapaisith.

He said this is the last year the land and building tax law offers such a discount to landowners.

The law took effect in 2020 and offers a tax payment discount for the first three years of enforcement.

In 2020, the government also launched the 90% land and building tax cut to ease the burden on owners of land and building sites because of the severe impact of the pandemic.

This tax cut was in effect from 2020-2021 as the Finance Ministry declined to extend it past last year. However, the existing tax discount remains valid through 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…