Thailand property tax in a rental
There are no general property taxes (capital tax on property imposed by the government) in Thailand, but real properties put to commercial use and not used for residential purposes by the owner are under the Building and Land Tax Act B.E. 2475 required to pay a property tax at a rate of 12,5 % of the annual rental value or the annual assessed rental value (if no rent is paid or the declared rent is considered too low). The annual assessed rental value is based on a calculation method over the appraised value of the property (land, house, apartment). If anyone leases a property at a rent lower than a reasonable rent, the amount could be adjusted and lessor could be taxed on what the rent should have been.