From April 18 to March 18, 2022, the adoption of a law on a tax on signage on buildings was considered, and following negotiations, it was adopted.
Not only was it decided in 2022 to levy a 100% tax on land and buildings after two years of tax abolition, but the tax on signage is also significantly increased, which will hit entrepreneurs hard.
This law has not become new, there was already a law on signage created in 1967, with the development of advertising in the modern world, it has become very outdated. Huge banners are hung on many houses, which spoils the appearance of architecture.
Now, for the presence of an advertising billboard, you will have to pay a tax of up to 400 baht per 1 square centimeter. Previously, the rate was 50 baht for 500 square centimeters. Digital signage will cost more than ordinary posters. Besides, signs in Thai will cost less than signs using Latin letters.
There is a list of signs that will not be taxed: signs and banners on public institutions, on private and public schools, signs on wheels (which can be moved), banners on cars, signs on temples, foundations, non-profit organizations, etc.
Billboards have been an important item in the marketing of new condo sales. The tax will definitely affect the size of signage, medium-sized developers can completely abandon advertising signage to reduce costs. There are suspicions that these changes will greatly affect the sales of new apartments.