There have been frequent changes in regards to Thai tax law, although this information has been up-to-date in 2021. Investors are also encouraged to follow professional advice from licensed legal or accounting professionals.
Thai Tax Law
|Transfer fee||Buyer & Seller (50/50)||2% of registered value of property|
|Stamp Duty||Seller||0.5% of registered value of property|
|Withholding Tax||Seller||1% of appraised value or registered sale value (whichever is higher) *NB note below|
|Business Tax||Seller||3.3% of appraised value or registered sale value (whichever is higher).|
Transfer fee can be split 50/50 (1% each) shared amongst the seller and the buyer. However, both parties have the right to negotiate, depending on the terms agreed upon.
Stamp Duty is only payable if exempt from Business Tax.
Withholding Tax 1% of the appraised value or registered sale value of the property (whichever is higher and if the seller is a company). If the seller is an individual, withholding tax is calculated at a progressive rate based on the appraisal value of the property.
Business tax is only applicable on the first 5 years after ownership of the property. Also, If the property was acquired through inheritance, this figure is waived regardless of the time period that it was owned for.
We fully understand that tax laws in other countries can perhaps at first appear daunting, so please do not hesitate to contact our team for more information or to clarify any of the above.