Thailand Cuts Property Taxes to Ease Pandemic Impact

Thailand is cutting property taxes for the agricultural, residential, and commercial sectors hit by the coronavirus pandemic.

The Thai cabinet approved the reductions in a draft decree issued Tuesday, according to a statement from the Finance Ministry. The cuts expire at the end of the year.

• Under current law, waste land or land and buildings used for commercial and industrial purposes with an appraised valued of 5 million baht ($158,000) are taxed at a rate of 0.3%, or 15,000 baht. After the reduction, the tax is reduced to 1,500 baht.
• Agricultural land with an appraised value of 5 million ...