Building and land tax.
In general, building and properties in Thailand are not subject to paying capital tax, however, properties put to commercial use, such as residential houses not occupied by their owner and commercial buildings, are under the Building and Land Tax Act obliged to pay a rental tax of 12.5% of the annual rental value or the annual assessed rental value (whichever is higher). Rental tax on leased properties is due by the end of February each year.
Taxpayers of building and land tax are all owners of qualifying properties (even if the ownership of the building is separate from land). Exceptions to this rule are owner-occupied properties, which are exempt from building and land tax. In case an owner owns more than one residential properties, it is only the first one that can be exempt from paying such tax.
A different scenario is foreign-owned properties purchased through a Thai limited company. Even if a foreign owner resides in such property, it is not considered owner-occupied and is subject to building and land tax, regardless of whether the company makes any money out of it or not. Foreign owners are often unaware of this responsibility and if caught at the occasional checks done by the authorities, they risk fines and higher tax assessment.