Property taxes in Thailand

When buying a property in Bangkok, Pattaya, Phuket, Chiang Mai, Hua Hin or wherever you decide to purchase Real estate in Thailand is important to know the different types of applicable taxes and which party, buyer or seller, usually pays; as well as being able to estimate the overall cost of the transaction.

Property Taxes

Business tax. 3,3% of the government assessed price or sale price, whichever is higher. Levied against a vendor who has been in registered possession of the property less than 5 years.

Stamp Duty. 0,5% of registered value. Temporarily being waived by the government if  the transaction is subject to Business tax -possession of the property less than 5 years-. Normally paid by the seller.

Transfer fee. 2% of registered value. Normally paid by the buyer.

Income Tax. The vendor must pay an income tax on what he earns on the sale. This rate  varies according to the transaction. Remember that the vendor may have to pay the Business Tax (3.3%)  as well, in case of  being in registered possession less than 5 years.

Other related Taxes

Land Tax. This tax is levied on land ownership. Despite being an annual tax is  often collected for longer periods as the amount is usually very small.

Inheritance Tax. There is no inheritance tax as such in Thailand.

Rental Income Tax. Usually charged between 10% and 30% of rental income depending on the specific circumstances.