Land and building tax collection postponed for 3 more months
Interior Minister Anupong Paochinda has postponed the collection of land and building tax for another three months to help ease the impact of Covid-19 on taxpayers.
As a result, the deadline for tax payment has been extended from April to July, with an option to pay in three-month instalments until September.
The ministry’s announcement was issued on Wednesday, with effect from Thursday.
“The original schedule for people required to comply with the Land and Building Tax Act of 2019, regarding the tax collection for land and buildings in 2022, shall be extended for three more months,” read the Interior minister’s announcement.
Revenue from land and building tax goes to local administrative organisations (LAO) to fund development projects. The Interior Ministry has informed provincial governors about the postponement of collection.
The move came after pressure from the private sector to delay and reduce land and building tax payment to ease burdens caused by the pandemic and Russia’s invasion of Ukraine.
The government reduced the land tax by 90 per cent in 2020, resulting in a revenue decline of 30 billion baht for LAO.