On 28 August 2020, the Governor issued a formal announcement that the owners of land and buildings that are subject to Thailand’s updated property tax rules will be granted an additional two month extension to the 31st October for payment of the land and buildings tax.
This joint initiative is between the Ministry of Finance and the Bangkok Metropolitan Administration as part of the measures to provide support for the COVID-19 crisis.
Normally, taxpayers are required to pay property taxes by the end of April each year in accordance with the tax assessments issued by the authorities. Taxpayers who fail to pay the assessed amount of taxes by the due payment deadline are subject to penalties of up to 40 percent of the amount of the tax payable.
For those taxpayers who wish to make payments in installments, the deadlines have been extended as follows:
|No.||Previous Deadline||New Deadline|
|1st installment||31 August 2020||31 October 2020|
|2nd installment||30 September 2020||30 November 2020|
|3rd installment||31 October 2020||31 December 2020|
For the ease of making payments and in support of social distancing guidelines, these tax payments can be made via an online bank payment system or at one of the Krungthai Bank branches, as well as at any of the 50 district offices in Bangkok.
As always, if you need any additional information or have any questions, please do feel free to contact us.
While this document is updated on a regular basis, it has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice.
Head of Regional Tax Practice
Thailand Tax Director,
Head of Regional Compliance & Investigations