Land and house tax to be submitted to Thai cabinet this month

[webfact]

TAXATION
Land and house tax to be submitted to cabinet this month

BANGKOK: -- Finance Minister Sommai Phasee said on Tuesday that he has already adjusted the land and house tax rate and will submit this for cabinet approval before the end of this month.

The exemption will cover houses valued at no more than Bt1.5 million.

Previously the exemption was only applicable to houses priced at less than Bt1 million. The minister said those who own more than one house would only have to pay for the most expensive one. The ministry is also looking into a possibility of including houses worth less than Bt45 million under the same criteria as houses worth less than Bt3 million.

He said the adjustment might reduce the national tax revenue injected into local administrative offices. The details of the tax collection scheme would be tabled to the Cabinet for consideration within the next 12 weeks.

The Finance Ministry would also propose amendments to the excise tax collection law and lottery acts at today's Cabinet meeting.

Source: http://www.nationmultimedia.com/national/Land-and-house-tax-to-be-submitted-to-cabinet-30255703.html


-- The Nation 2015-03-10

[Daniel Ingalls]

To be submitted by the end off the month....................I'm sure by the time it gets to the floor for discussion, many, many more changes will be made. and it might still be rejected.

[Pib]

What a piece of garbage news report from The Nation...it has got to have some errors in it. Where it says Bt45M it probably should be Bt4.5M...if the exemption is going to indeed apply to homes worth less that Bt45M then only the super luxury homes or large commercial buildings would get taxed...or maybe they were talking the exemption of only half the tax applying for homes worth under Bt3M which was talked about one time before as the govt continues to oscillate all over the map on the proposed land & house tax. And in one place it says the tax proposal is to be submitted to the cabinet by the end of the month but in another place it says within the next 12 weeks which technically by the end of the month falls within. I'll wait until the Bangkok Post publishes an article on the subject to get an version I can understand..

[mango66]

so the Thaksins will be charged only for 1 house !!

same with all rich ones which have their 3 weekend houses around Thailand,

only the expensivest one will be taxed !!

Super fine for the reach ones !

Also for me good, as now i am sure my doghouse is less worth than my wood hut,

and wood hut is less than a 1 mill , and condo is only 1,2 mill !!

So no tax for me !!

[96tehtarp]

I'm not sure The Thaksin's will be charged for one house (The devil is in the details), but I am sure that non-payment of property taxes always leads to expropriation by the tax man. I also know that in Thailand if you want to see an explosive, violent, unhappy, and divisive reaction simply try to take a man's land, even 10cm of it. It's admitted that the current military managed government has all the guns.

Land tax inevitably leads to expropriation for non-payment. Therefore it will be very interesting to see this bill fly.