Are there any taxes and costs applicable when purchasing property in Thailand?
Whenever a property in Thailand is bought and sold, there are four taxes you should be aware of. 1. Land registration (transfer fee) at 2 percent of the assessed value of the land. 2. Stamp Duty/Fee of 0.5 percent of the assessed value or the sale price – whichever is higher. 3. A specific Business Tax of 3.3 percent of the assessed value or the sale price – whichever is higher – this tax will be applied to all sales by companies and to private sales that take place within 5 years of the date of purchase. 4. Income Tax. This is calculated on a very complicated formula based on the assessed value of the property, the length of time it has been owned and the applicable personal income tax rate. In practice, this will work out to less than 2 percent of the price for low to medium value properties, and up to 3 percent for properties with a higher value. The Thai system of taxing property is based on an arbitrarily assessed value, which is determined by the local Land Department, rather tha
