A comprehensive land and property tax bill for Thailand has been discussed for decades, yet political support has been weak as many legislators are large landholders. According to a recent report in the Nation, however, a bill may be forwarded to Parliament for debate soon, now that Thailand's Finance Minister Kittiratt Na-Ranong has expressed support for it.
A draft bill was prepared by the previous Democrat-led government, and Kittirat has suggested that the bill be made more flexible by raising the maximum tax rates that could be applied as well as limiting its application to those parcels of land that have already been properly appraised.
The rates proposed by the previous government were 0.05 per cent on farmland, 0.1 per cent on land used for residential purposes, and 0.5 per cent on land for commercial use. Unused land would be subject to a 0.5-per-cent rate, with the rate doubling every three years.