After lengthy deliberation the Land and Building Tax Act (Act) will become effective in tax year 2020; it is the first land and building tax to be introduced in Thailand. The Act replaces the regressive and outdated property tax under the Household and Land Tax Act, B.E. 2475 (1932), and Local Land Development Tax Act, B.E. 2508 (1965).

As per corporate regulations, the year end 2019 accounts and tax returns must be prepared for your Thai Company Limited (Co., Ltd.). The submission date of the company accounts to the Revenue Department (RD) and the Department of Business Development (DBD) are at the end of May 2020.