Land tax loophole endangers our environment
The public is little aware of the problem, but a new land tax is Thailand's most environmentally destructive policy in the 21st century so far. Taxing land and buildings is a standard policy around the world, and it makes good economic sense. That's why parliament in 2019 passed the law in question -- the Land and Building Tax Act, which went into effect in 2020, imposing annual tax rates ranging from 0.01% to 1.2% or more on the value of the land.
Source: bangkokpost.com
