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