Property tax (or tax relating to real estate transactions),
so long as a property is being used for private residential purpose,
do not apply. However, upon ownership transfer, there are costs.
These fall into four following potential categories:
- transfer fee 2%
- specific business tax 3.3% (If the land's owner transfers
within 5 years)
- duty stamp 0.5%
- income tax ( to be withheld at source, the seller of real
estate has an obligation
to pay this tax with a progressive rate as stated by the Revenue
Department).
However, If a company or a limited partnership is transferor
of the real estate, it has to pay a withholding tax 1 % of
the selling price or estimated price of the Land Department,
whichever higher.
This payment is considered as a tax credit for the company's
annual tax filling .
In practice costs above, except income tax, will be split in
some degree between the buyer and seller, depending on negotiation
.Learn more about
How to buy property
Foreign Ownership over the Land in
Thailand
Buying a apartment or condominium
Property Tax in Thailand
Thailand Land Titles
Thailand Measurement of Land |
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