Relief rate deliberated

The Finance Ministry is considering extending reduced liability for the land and building tax by another year to lower taxpayers’ financial burdens.

The ministry’s decision to reduce eligible taxpayers’ liability for the land and building tax by 90% in 2020 followed the pandemic sweeping the globe, causing higher unemployment and GDP contractions.

The relief has seen local administrations incur losses of a combined 39 billion baht.

Wilawan Veerakun, deputy director-general of the Treasury Department, said an extended reduction of liability from the land and building tax is expected this year, but the rate is being deliberated.

When the full implementation of the long-awaited land and building tax will take place this year, which the Fiscal Policy Office has been trying to pass for 25 years, remains unclear.

The Finance Ministry has approved postponing the use of…