On December 15, 2020, Thailand’s Revenue Department (RD) announced a further extension for e-tax filing and payment until January 31, 2024. The RD’s announcement is meant to support the government’s Thailand 4.0 policy by encouraging use of the online system for filing and paying taxes. The RD has been promoting the use of e-tax filing and payment since 2012 by granting eight-day extensions to anyone who submits online, rather than using traditional paper filing. Initially, this eight-day extension program was due to expire on January 31, 2021, but the RD has now further extended it for another three years, until January 31, 2024. Tax Filing and Payment Schedule for Eligible Tax Returns * Notification of the Ministry of Finance Re: Extension of Period for Tax Return Filing and Tax Payment via Internet System (No.3) dated December 15, 2020. It should be noted that tax returns and supplemental tax returns must be submitted via the e-filing system to qualify for the eight-day extension. If a taxpayer has submitted their tax return in paper form, they will not be entitled to the extension even if they resubmit via e-filing system. The reverse is also true—a tax payer who submits via the e-filing system, and resubmits in paper form, will not be eligible for the eight-day extension. For personal income tax payments set up as three instalments, the first instalment can be paid together with the e-filing and that tax payment is also entitled to eight-day extension.  The second instalment can be paid within one month after the extended due date of the first instalment, and the third instalment can be paid within one month after the due date for the second instalment. For more information about these tax filing extensions, or any aspect of tax law in Thailand, please contact Varapa

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.