Do not pay more Property fees or Thai taxes than necessary.
The fee for transferring ownership to land, building or condominiums is 2% of the assessed value no matter what amount is declared. In addition there is a 0.5% stamp duty based on the receipt actually or constructively given for purchase price. The 0.5% stamp duty is based on the amount declared or the assessed amount which ever is higher. For those who sell land or buildings held for less than five years (less than on year if the owner has his registered domicile at the place being sold) there is a specific business tax of 3.3% of the declared amount but if this tax is paid then the 0.5% stamp duties referred to above is exempted.
Transfer fees and taxes of immovable property:
LAND/OFFICE transfer tax of immovable property (land, house or condominium)
Transfer Fee 2% over the appraised value of the property
Business Tax 3.3% over the registered (sale) value or appraised value (whichever is higher)
Stamp Duty 0.5% on the registered value
if the seller is a company withholding tax is fixed at 1% over the registered sale value or appraised value (whichever is higher)
if the seller is a private person withholding tax is calculated at a progressive rate based on the appraised value of the property
*Note on stamp duty and specific business tax (SBT):
Thailand Property TaxesStamp duty is exempt if a Specific Business Tax is charged.
Business tax consist of 3% business tax + a municipal tax of 10% assessed on the amount of the specific business tax (total tax 3.3%).
If the seller is an individual (not a company) Specific Business Tax does not have to be paid if:
- The seller has possessed the property more than five years before the transfer (the transferred real property has been used as the principal place of residence, and the seller’s name appeared in the house register for not less than one year from the date of acquiring such property).
- The seller transfers the real property to the legal heir or an heir by a will.
- The seller transfers the real property to a legitimate child, but not including an adopted child.
- The seller transfers the real property without consideration to government agencies.
- The seller transfers the real property without consideration to temples, churches or mosques.