Transcript of the above video:

As the title of this video suggests, we are discussing well the Tax Ceiling associated with commercial property here in Thailand. We have done other videos contemporaneously with this one where we discuss Tax Ceilings associated with for example farmland, residential property, this is specific to commercial property. 

Commercial Property has different tax implications than those other types of property and in fact there is even something called the Specific Business Tax which we have made a video on in the past which may impact a property owner if they are selling it within a certain period of time of having bought that property. We oftentimes see this occur mostly in the context of commercial property do we see the Specific Business Tax being brought to the foreground. I thought of making this video after reading a recent article in the Bangkok Post, that is bangkokpost.com, the article is titled: New tax reduction for land and buildings comes into effect. Now I urge those who are watching this video, go check out that article in detail. If you are really interested in this topic, that article has a lot of insight and hats off to the Bangkok Post for writing that article and giving us that information. I am going to quote a small excerpt here for purposes of this video. Again, New tax reduction for land and buildings comes into effect, Bangkok Post, bangkokpost.com. Quoting directly: "The current tax is based on step-up rates which vary according to the value of the land and construction." Quoting further: "Land for commercial and industrial use and vacant land have a tax ceiling of 1.2% and the effective rate is 0.3 - 0.7%." So the thing to take away from this is again unlike the residential sort of exemptions associated with maintaining a residence or a first-time residence, Commercial Tax rates are slightly different. They don't have the same exemptions associated with them as I mentioned previously the Specific Business Tax may come into play. And understand, these tax rates, we are not talking about the transfer tax associated with conveyancing when buying or selling this type of real estate which may occur at the time of conveyancing. This is just sort of an ongoing sort of tax which is assessed to Commercial Property here in the Kingdom of Thailand.