Thailand’s Land and Building Tax (LBT) regime has entered a new phase. The temporary relief measures and transitional tax reductions that accompanied the implementation of the Land and Building Tax Act B.E. 2562 (2019) have largely concluded, placing property owners, developers, and investors under heightened scrutiny. At the same time, local authorities, particularly the Bangkok Metropolitan Administration (BMA), have significantly enhanced their assessment capabilities through the use of satellite imagery, geospatial mapping technologies, and artificial intelligence-driven land-use analysis.
Accounting & Legal in Thailand
Thailand's luxury condominium market continues to attract substantial foreign investment, particularly in Bangkok's prime residential districts. While significant attention is often given to the acquisition process, the eventual sale and repatriation of proceeds can present a far more complex legal, tax, and compliance challenge.
Thailand's restrictions on direct foreign ownership of land have long encouraged the development of sophisticated leasehold structures, particularly within Bangkok's luxury residential and mixed-use property sectors. A common arrangement involves a 30-year registered lease, often accompanied by a contractual commitment or renewal mechanism for an additional 30 years. For decades, many investors focused primarily on the legal and commercial aspects of these structures, while the accounting consequences remained relatively straightforward.
