Ministry to mull delay of land and building tax collection
Land and building levy hits businesses
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.
This tax cut was in effect from 2020-21, but the ministry declined to extend it past last year.
Mr Arkhom said he assigned the Fiscal Policy Office to conduct an analysis of the tax collection after the private sector proposed the tax be delayed and reduced.
Landowners…
