Real Estate & Property Transfer Fees and Taxes in Thailand
What are the fees and taxes that both buyers and sellers face in Thailand when it comes to buying or selling a property? This is a common question that understandably every one of our clients wishes to know.
At PhuketCondo.Net we can provide our clients the exact amount of taxes and fees to be paid once we know the market value of the property. Please contact us if you would like a free quotation.
Here is a clear breakdown of the taxes and fees due at the land office when completing a transfer of a condominium, house or land:
The transfer fee is 2% of the appraised value of the property. The transfer fee is normally paid by the buyer of the property or it is shared by equally by the buyer and the seller.
Business Tax is levied on companies and individual owners holding property less than 5 years, hence the seller is usually responsible for the 3.3% fee.
Stamp Duty is 0.5% of the value of the purchase price. This tax is normally paid by the seller or equally between buyer and seller and not imposed when on the Business Tax is due.
Withholding tax is usually the responsibility of the seller. It is 1% of the sale price. The amount of tax paid varies slightly if the seller is an individual or a private company.
|Witholding Tax||Seller||1% of the declared amount or assessed value - whichever higher.|
|Transfer Fee||Equally Buyer and Seller||2% of assessed value|
|Stamp Duty||Seller; or equally between buyer and seller||0.5% of the value of the purchase price.|
|Business Tax||Seller||3.3% to the declared amount of assessed value, whichever is the higher|
Lease Registration Fee:
In the case of the sale and purchase of a lease the above fees are not applied. The lease registration fee of a property is calculated as 1% of the total amount for the whole lease term. The fees are payable at point of transfer at the land office and are usually paid by the buyer or shared equally between buyer and seller.
Please do not hesitate to contact us directly if you would like to further information. We provide free consultation and advice and guide our clients every step of the way through the purchasing process.
Alex Seago is the Managing Director of Phuket Condo Co. Ltd. You can check out his profile here: https://phuketcondo.net/about-us/