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Tax and transfer fees - Thailand Property for Sale and Rent

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Once you have found a property that you wish to buy, or you have found a buyer for your home, you need to be aware that there will be various property taxes and transfer fees that will be paid at the land department. These fees can be paid from either party or on a 50/50 basis. It needs to be established very early in the negotiation process who is paying what. The breakdown of these costs are as follows:

Transfer Fee: This is calculated as 2% of the declared value of the property being transferred the percentage fee of the appraised value of the property being transferred. The Transfer duty is paid by the buyer or an agreement is made that the cost is shared.

Specific Business Tax: The specific business tax is 3.3% of either the sale price of the property or the appraised price of the property (whichever is the higher of the two). Note that this tax consists of 3% Business Tax + a Municipal Tax of 10% assessed on the amount of the specific business tax (total tax 3.3%).

There is no Specific Business Tax payable in Thailand under the following circumstances:

  • If you have possessed the property for more than five years.

  • If you are transferring the property to an heir in your will.

  • If you transfer the property to your legitimate biological child.

  • If you are transferring it to a Thai government agency.

  • If you are transferring it to a temple, church, or mosque.

Stamp Duty: The stamp duty in Thailand for the transaction is 0.5% of the sale price of the property. The seller in the transaction normally pays for the Stamp Duty in Thailand. Note that if Specific Business Tax is due then the Stamp Duty is not payable. It is one or the other which gets paid.

Withholding Tax: This tax will vary according to whether the seller is a person or a company. If the seller is a company then the withholding tax is fixed at 1% over the registered sale value or appraised value (whichever is higher). If however, the seller is a private person withholding tax is calculated at a progressive rate based on the appraised value of the property.

Building Tax: Recently introduced this tax is due to be paid by sellers of properties owned in Thai Company prior to the shareholdings being transferred to new owners.

For more help and advice on selling your property, and trying to calculate the expected costs for the transfer fees and property taxes, please contact us on Email Or visit our office and speak to one of our experienced consultants who can talk you through it step by step.