reader Posted December 26, 2019 Share Posted December 26, 2019 From Bangkok Post Operators of homestay and home-sharing premises will soon face much higher commercial property tax than buy-to-let homeowners who pay residential rates, the Finance Ministry says. However, the new rules have sent many confused land and property owners into a panic, particularly in Bangkok. They received a letter from local administrative organisations and district offices informing them of their property type ahead of the enforcement of the new tax legislation. To quell homeowners' unease, the Finance Ministry and related agencies have agreed to group buy-to-let homes and condominiums under residential use, which is charged below the rate for commercial use under the new land and building tax to be implemented in August next year, according to Lavaron Sangsnit, director-general of the Fiscal Policy Office. This is because the authorities believe these properties are rented for long-term residential purposes. But homestay operators and home-sharing hosts like Airbnb will reap no windfall from the Finance Ministry's decision to apply the land and building tax rate for residential purposes to buy-to-let homes. Homestay and home-sharing activities are considered short-term rentals for commercial use, so these operators will be subjected to the commercial rate, Mr Lavaron said. https://www.bangkokpost.com/thailand/general/1824284#cxrecs_s Quote Link to comment Share on other sites More sharing options...
