COVID-19 Tax Reductions and Extensions for 2021

On 26 January 2021, the Thai Cabinet approved a series of tax extensions and reductions in order to provide relief for the Thai economy during the ongoing COVID-19 pandemic.

Personal income tax extensions for e-filing

The period to file personal income tax returns online is extended by three months, moving the e-filing and payment deadline to 30 June 2020. However, the paper filing deadline will remain 31 March 2021.

VAT and withholding tax extensions for e-filing

Submission and payment deadlines for VAT and withholding tax due during the period from February 2021 to June 2021 are extended to the end of the month for e-filing. For instance, VAT incurred during January 2021 must normally be filed and paid by 15 February 2021. Under the extension, it may be filed and paid online by 28 February 2021 instead.

Land and building tax reductions

Land and building tax payments are reduced by 90% for the 2021 tax year.

This decree will mirror the 90% reduction granted for the 2020 tax year. As announced by the Ministry of Interior, land and building tax payments for 2020 must be paid by 30 June 2021.

Real estate transfer and mortgage fee reductions

Similar to reductions granted in 2020, fees for the transfer of real estate and the registration of a mortgage on a condominium or property at the Land Office are reduced until 31 December 2021. If the value of the mortgage does not exceed THB 3 million, the mortgage registration fee is reduced from 1% to 0.01%. Likewise, the fee for real estate transactions is reduced from 2% of the appraisal value to 0.01%, as long as the property value does not exceed THB 3 million.

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