The Thai government has decided to reduce the tax on
real estate by 90 percent for the whole of 2020. In this way, the country's authorities intend to support the economy, which has suffered significantly due to the coronavirus pandemic.
At a recent government meeting, a resolution was adopted to reduce the tax on kvartira/">Property in Thailand, which was introduced last year. The tax cut applies to both buildings and land. In addition, it was decided to postpone the date of filing documents for the payment of income tax until August 2020. Previously, the date was moved from February to May.
Previously, the Thai authorities sent 58 billion dollars to improve the country's economy, by approving three emergency budget bills. The first bill allows the government to borrow more than $34.9 billion to help businesses and individuals and stimulate the economy. The second allows to allocate more than 15.8 billion dollars for the issuance of low-interest loans to small and medium-sized businesses. The third allocates funds to stabilize the financial system and ensure the economic security of the country.
