When you buy or sell a property such as a house, condominium, or a land, the transfer between the buyer and the seller happens, the property transfer happens at the land office. The officer at the land office will follow the instructions laid out on the buy and sell agreement and will register the property transfer and collect the appropriate taxes and fees.

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Calculation of Taxes And Transfer Fees

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The taxes are paid by the seller while the transfer fee is negotiable between buyer and the seller during the negotiation process. The following are the current fees and is subject to change.

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• Taxes on Transfer Fees. -  2% of the registered valued of the property.

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• Withholding Taxes - 1% of the appraisal value of the property.

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• Business Tax -  3.3 % when the property is held less than 5 years and is based on the appraised value. 

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• Stamp Duty - 0.5% of the registered property value.

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Income Tax (Withholding Tax) on Property Sale

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Thai law requires that the seller to pay a withholding income tax on the proceeds of the sale. If the property seller is a company the withholding tax is 1% of the sale price or the assessed value. If the property seller is an individual, then the tax is calculated on a progressive income tax scale.

 

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