Property Taxes & Fees in Thailand

Property Taxes & Fees in Thailand

When you buy property in Thailand you need to know who will pay which tax and also what each tax is going to be. The government has percentage based taxes and are listed below. Speak to a property attorney today about is required when a property transfer takes place in Thailand.

Here is the basic breakdown of the transaction:

 

Property Transfer Fees:

Transfer Fees 2.0% over the appraised value of the property
Business Taxes  3.3% over the sale value or appraised value (whichever price is higher)
Stamp Duty 0.5% over the registered value of the property
Withholding Tax
  • If the seller is a company withholding tax is fixed at 1% over the registered sale value or appraised value.
  • if the seller is a private person withholding tax is calculated at a progressive rate based on the appraised value.

 

 Stamp Duty & Specific Business Taxes:

Stamp Duty Is not charged when Specific Business Tax is charged.
Business Tax Consist of 3% Thai business tax +  Municipal tax of 10% of the SBT (total tax 3.3%)
If the seller is an individual the SBT does not have to be paid under the following conditions:
  • The seller has owned it for 5+ years;
  • The seller transfers to an heir by a will;
  • The seller transfers  to a legitimate child;
  • The seller transfers to the government;
  • The seller transfers  to a temple, church or mosque.

 

Who pays what in the Transfer:

Specific Business Tax The seller’s duty
Stamp duty The seller’s duty
Transfer fees The buyer’s duty or shared
Withholding tax Always the seller’s duty