Thailand's Land Tax Reform In Process

Over the past decade the issue of forms to the Thai land system has been on the national political agenda.
The NCPO has made public plans to change the land and building tax system.
According to the last draft of the code in 2012, vacant land would be taxed at 2% of assessed value, up to 0.1% for agricultural and residential property and a threshold of 2% for commercial real estate.
Land banking and speculation remain key drivers for the new tax, which remains extremely controversial in both the private and public sectors.