The renewed spread of COVID-19 in Thailand since December 2020 has led to additional tax relief measures to lessen the economic impact of the outbreak. Most recently, it has prompted the Ministry of Finance to propose a draft Royal Decree on Land and Building Tax Reduction B.E. 2564 (2021), which is expected to be similar to the 2020 measures that reduced land and building tax payments by 90 percent. In the meantime, on January 21, 2020, the Ministry of Interior announced an extension for the payment of land and building tax in 2021, which is now due by June 30, 2021 (extended from April 30, 2021). In light of the new land and building tax payment deadline for 2021, the Bangkok Metropolitan Administration, or the relevant municipality or local administrative office, will now send land and building tax assessment forms to taxpayers by April 30, 2021 (extended from February 28, 2021). For more details on these measures, or on any aspect of Thailand’s land and building tax, please contact Chaiwat Keratisuthisathorn at [email protected] or +66 2056 5507.

Multilaw has launched the 2020 edition of its Real Estate Guide, including updated contributions for Cambodia, Laos, Myanmar, Thailand, and Vietnam provided by real estate specialists at Tilleke & Gibbins. This concise guide, which features contributions from Multilaw member firms in 58 jurisdictions worldwide, is designed to help investors navigate the complex global real estate landscape and overcome the key challenges they may face when managing real estate across borders. The guide outlines key legal requirements in each jurisdiction, focusing especially on the restrictions and taxes applicable in each country, and the legal methods available for registering and identifying real estate and property ownership. Tilleke & Gibbins is a proud member of Multilaw, a leading network of carefully selected, independent law firms consisting of over 8,000 lawyers in more than 150 commercial centers, able to provide expert legal advice in complex environments around the globe. The full Real Estate Guide  is available free on the Multilaw website.

On August 12, 2020, the amended Law on Land No. 70/NA, dated June 21, 2019 was published in the Official Gazette  of the Lao Ministry of Justice, replacing the previous amendment of the law from 2003. The new law introduces significant changes to the country’s current real estate regulatory framework, and provides legal means to boost investment in and development of the country’s real estate sector.

Several Thai government agencies have acted in concert to provide many taxpayers with an additional extension to the deadline for paying the 2020 land and building tax (LBT), and to clarify procedural matters for collecting the new tax, which is being instituted for the first time in 2020.