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Related Taxes
Property Taxes and Costs in Thailand.
Every person residing in Thailand, regardless his/her nationality shall be responsible to pay taxes and fees when buying or selling property. These taxes and fees are as follows:

Expense Item Rate Responsible by
1. Transfer Fee 2.0% Buyer / Seller (1% each)
2. Stamp Duty* 0.5% Seller (as company)
3. Withholding Tax 1.0% Seller (as company)
4. Specific Business tax* 3.3% Seller (as company)

*If you pay Stamp Duty, you shall not pay Specific Business Tax and vice versa.

1.
Transfer Fee: The transfer fee shall be collected at the rate of 2% of the appraised value of property of the Land Department. Whether, the buyer or the seller is paying for this fee, is depending on the Sale and Purchase Agreement. Normally the buyer partly pays for this fee. This fee will be paid to the officer at the land office, upon the day of the transfer of ownership.


2.
Stamp Duty: The stamp duty shall be collected at the rate of 0.5% of the actual purchase price of the appraised value of the Land Department, whichever is the higher. The stamp duty shall be imposed unless the special business tax is paid.


3.
Withholding Tax: The withholding tax is a tax payable by the seller of the immovable property to Land Department immediately at the occurrence of the purchasing.


 
Individuals selling their property :
The withholding is determined under to Revenue code of Thailand. The seller shall withhold such tax and pay to the Revenue Department, when he/she earn an income from the sale of immovable property (including condominium unit). Withholding tax rate are calculated based from government assessed price with a deduction of possession year, which are varied depending on the year of your possession (the more years of possession, the more the deduction) and calculate that amount based on the income form the progressive tax rate (range from 0 – 37 percent).


 
Companies selling their property:
The withholding tax of 1% from appraised value of property or actual selling price, whichever is higher, must be paid by the Seller. However, there are no property taxes as such in Thailand that are exactly equivalent to the property taxes in the West. Commercial properties incur a small tax which is collected infrequent. In term of registering a lease agreement, a registration of a lease for duration of more than 3 year required to pay a registration fee rate of 1% plus a 0.1% rate of stamp duty. Rates are calculated from the total amount of the rental fee or the key money or both.


4.
Specific Business Tax: The specific business tax shall only be collected from the sale of immovable property with trade of profit seeking purpose at the rate of 3.3% of the appraised value or the actual purchase price, whichever is the higher. The special business tax shall be imposed if you are selling your property, which you have own less than 5 years or you have registered in house registration less than 1 year.



Related Taxes
Property Taxes and Costs in Thailand.
Other Related Taxes

Building and Land Tax:
The house and land tax shall be collected at a rate of 12.5% of the yearly rental income according to the lease agreement or the annual value assessed by the Land Department, whichever is the higher.

Personal Income Tax:

Rental income is subjected to pay personal income tax according to the progressive rate as follows;

Yearly Income (Baht) Tax Rate % Tax Liability on bracket
0 – 150,000 0 0
150,001 – 500,000 10 35,000
500,001 – 1,000,000 20 100,000
1,000,0001 – 4,000,000 30 900,000
4,000,000 and up 37  

Please note that above tax is subjected to change on government policy from time to time. Therefore we recommend investors to study current tax rate or latest policy before get involved in the property transaction. Investors may engage legal advisor or lawyer to help them look to tax structure for the most effective way to purchase or lease the property.



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