New land appraisal price delayed for another year


The Finance Ministry has delayed the new land appraisal price base for another year, said Treasury Department director general Yuttana Yimgarund on Wednesday.

The ministry's permanent secretary signed the order to suspend the 2020-2023 price base in late December, said Yuttana. This means the department will adopt the 2016-2019 land appraisal price this year.

The 2020-2023 benchmark was originally slated to take effect in January 2020, before the Covic-19 pandemic hit the economy.

Meanwhile, the department’s deputy director general Wilawan Veerakun said that the government is expected to extend the reduction of land and construction tax for landowners for another year, but might adjust the size of the cut.

Last year, the tax was cut by 90 per cent.