Transcript of the above video:

As the title of this video suggests, we are discussing taxes, specifically property taxes associated with farmland here in the Kingdom of Thailand. I thought of making this video after reading recent article in the Bangkok Post, bangkokpost.com, the article is titled: New tax reduction for land and buildings comes into effect and I am going to quote a small excerpt from this article. For those are watching this video go check out this article, if you're really interested in this topic. I know it's probably a fairly small niche number of people that would be interested in this topic but there is a lot of good information in that article, and our thanks to the Bangkok Post for putting this out there because it is informative to foreigners. Quoting directly: "The current tax is based on step-up rates which vary according to the value of the land and construction." Quoting further: "The tax ceiling on farmland is 0.15% and the effective rate is 0.01 to 0.1%. The landowner is exempt from the tax if they are individuals and the land price does not exceed 50 million baht."

So again, that is sort of, again that is a small excerpt there but there's a lot of distillate if you will in terms of information regarding taxes and property tax and the practical implications associated therewith. And again, I urge folks who are watching this video go read that article, it is insightful but yeah this is what you are looking at. There are some taxes and associated with farmland in Thailand. Again, not going to be a major issue for most foreigners here in Thailand because Thai Law restricts foreigners from owning land. They also restrict foreigners from engaging in agricultural activities pursuant to the list of restricted occupations. That said, many foreign nationals here in Thailand have a Thai spouse and that Thai spouse may have farmland, so this may be of interest to a foreign national who sort of indirectly could be sort of affected by the tax rules and tax laws associated with farmland here in the Kingdom of Thailand.