Tax Laws -- Taxes for Buying and Selling Property in Thailand
Every person residing in Thailand, regardless of his/her nationality, is responsible for
paying taxes and fees when buying or selling property.
Every person residing in Thailand, regardless of his/her nationality, is responsible for
paying taxes and fees when buying or selling property.
Property Taxes in Thailand
Once you have acquired the property, there are 2 different types of tax levied on property in Thailand that you need to be aware of:
Land Tax
This is an annual tax levied on land ownership equivalent to just a few Baht per Rai. The amount is often so miniscule that in practice the body charged to collect it, rarely bothers to do so. When they do collect it, it is usually after several years when the amount has accumulated.
Note:
If the house is purchased through a company, you need to consider that corporate tax is higher than personal tax, and the cost of setting up the company has to be considered as part of the initial investment, even if this is relatively modest.
Once you have acquired the property, there are 2 different types of tax levied on property in Thailand that you need to be aware of:
Land Tax
This is an annual tax levied on land ownership equivalent to just a few Baht per Rai. The amount is often so miniscule that in practice the body charged to collect it, rarely bothers to do so. When they do collect it, it is usually after several years when the amount has accumulated.
Note:
If the house is purchased through a company, you need to consider that corporate tax is higher than personal tax, and the cost of setting up the company has to be considered as part of the initial investment, even if this is relatively modest.
