Summary

The Cabinet of Thailand approved a one-year extension of reduced government fees and specific business tax (SBT) on the sale of immovable properties to energise Thailand's real estate sector. 
 
Full Update

Earlier this year, the Cabinet approved a reduction of the government fees and SBT as detailed in our previous Client Alert entitled "Thailand reduces government fees and specific business tax on the Sale of Property". 
 
The reduced rates were originally to expire on 28 March 2009.
 
However, the Ministry of Finance reported that the  reduction of government fees and SBT has helped revitalised investment in Thailand's real estate sector. This prompted the Cabinet to pass a resolution on 2 December 2008  extending the application of the reduced rates on the registration of  immovable properties until 28 March 2010.  

For further information, please contact:
 
Araya Akomsoonthorn ( araya.akomsoonthorn@mayerbrown.com )
Chawatak Ardnaseaw ( chawatak.ardnaseaw@mayerbrown.com )
 
Learn more about our Bangkok office, Real Estate and Tax practices.

Related Capabilities