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.
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.
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Araya Akomsoonthorn ( firstname.lastname@example.org )
Chawatak Ardnaseaw ( email@example.com )
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