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Land and building tax payment extended by 3 months

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Land and building tax payment extended by 3 months
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The land and building tax payment schedule has been extended by 3 months to assist residents and business owners to navigate through difficult financial waters. The end of April deadline has been relaxed until the end of July.

Interior Minister Anupong Paojinda says the extra time will allow taxpayers to pay without penalties, and those who have been fined will be compensated.

Local administrative bodies have been informed they have until the end of August to inform taxpayers of their tax liability and until the end of September to inform land offices of unpaid taxes.

The extension will apply to those who pay in quarterly instalments too, with the first payment being postponed to July, the second to August, and the last instalment being postponed to September.

Owners of homes, farms, commercial spaces, and undeveloped land are all part of the land and building tax law. Depending on how the properties are used, different rates apply; payment is generally due in April of each year.

The tax law gives tax payments a reduction for the first 3 years of implementation, which began in 2020.

Due to the outbreak of Covid-19, the government has introduced a 90% land and building tax cut in 2020 to lessen the burden on landowners.

The Finance Ministry decided against extending this tax relief past the previous year, so it was only in place from 2020 to 2021. The current tax break, though, is still in effect for this year.

SOURCE: Bangkok Post

 

Courtesy ofThaiger News

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