Bangkok Metropolitan Administration to cancel agricultural land benefits

Bangkok Metropolitan Administration to cancel agricultural land benefits

The Bangkok Metropolitan Administration fully levy a tax on land used in agriculture. Previously, this type of land was subject to a privilege, but many landowners registered their lands as agricultural to reduce the tax rate with other land use.

At the moment, the rate of 0.01-0.1% applies to agricultural land (depending on the value of the land), while the full rate of 0.15% applies to other types of land plots, which means the payment of a tax of 1,500 baht from every 1 million baht of land value.

Due to the registration of undeveloped land in expensive areas as agricultural land, the benefit will be canceled. However, it is no longer possible to introduce changes to the taxation system for the new fiscal year 2023, which will begin in October 2022. It is expected that amendments will be made in the future.

Share
Subscribe to newsletter
Subscribe