The Thai Cabinet in late January 2021 approved several relief measures in response to the coronavirus (COVID-19) pandemic.
These relief measures include an extension of tax filing deadlines, and reductions of the land and building tax, house transfer fee, mortgage fees, and social security contributions.
The extended tax return filing and tax payment deadlines would be available for certain tax returns filed electronically (that is, filed via the Revenue Department’s electronic filing (e-filing) system).
|Tax payment and tax return||Eligible tax month||Normal deadline||Extended deadline|
|Individual (personal) income tax||N/A||31 March 2021||30 June 2021|
|Withholding tax||January 2021 – May 2021||15th day of the following month||Last day of the following month|
|Value added tax (VAT)||January 2021 – May 2021||23rd day of the following month||Last day of the following month|
|Self-assessed VAT||January 2021 – May 2021||15th day of the following month||Last day of the following month|
The Thai Cabinet also approved a 90% reduction of the land and building tax for assessment year 2021 for the following types of properties:
The reduction would apply to any owners who own the property or possess the state property for their own benefit as of 1 January 2021.
There are certain types of property that would not be subject to this relief. In addition, the Ministry of Interior has extended the deadline for land and building tax payments from the end of April 2021, to a date that is two months from the date of receiving the tax assessment—which could potentially be the end of June 2021 at the latest.
In order to support individuals in purchasing residential properties, the transfer fee would be reduced from 2% to 0.01% and mortgage fees would be reduced from 1% to 0.01% for the sales of houses with land (i.e., a house, semi-detached house or town house) and condominiums. This fee reduction would only apply to the purchases of a house or condominium from the land developer or condominium developer if the sales price does not exceed THB 3 million (approximately U.S. $100,000).
The legislation to implement this relief measure would be effective from the date of enactment through 31 December 2021.
Social security contribution rates would be reduced for the two-month salary cycles from February 2021 to March 2021. The reduced rates would apply to the maximum salary of THB 15,000.
Read a February 2021 report prepared by the KPMG member firm in Thailand
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