BOI offers tax privileges for housing under THB1.5m for low-income Thais
The Office of the Board of Investment (BOI) has announced tax privileges for property developers of houses and condos to sell to low-income people at prices of 1.5 million baht and lower.
BOI Office secretary-general Narit Therdsteerasukdi said the privileges were approved by the board on March 15 in line with the third phase of the Government Housing Bank (GHB)’s project to provide loans to low-income people for buying houses and condominium units.
Narit said the privileges would be applied to townhouses, single-detachment houses and condominiums.
Each house unit must have at least 70 square metres of space and a condo unit must have floor space of at least 24 square metres.
Narit said each project must first secure endorsement from the GHB to be eligible for tax privileges from the BOI.
Eligible projects would be exempted from corporate tax for three years for the cost of investment in roads, public facilities and public usage areas of the project.
Narit said property developers must apply for privileges under the scheme before the end of next year.
He said the BOI used to support housing projects for low-income people from 1993 to 2014 and resumed the privileges again in 2020. He said the BOI has so far certified 44 condo projects from 11 companies as being eligible for tax privileges, covering 34,900 units in Bangkok, Nonthaburi, Samut Prakan, Pathum Thani, Nakhon Pathom and Chonburi provinces.
