Selling before and after 5 yr rule.. what total fees am I looking at?

[Will E Vormer]

My wife and land office have confused me abit. Is this correct?

3.3%  foreigner tax bf 5 years.

2% to transfer chanote

3% agent fee.

Stamp duty?

Edited October 2, 2018 by Will E Vormer

[Peterw42]

Its not a foreigner tax, its for everyone  if the property is sold within 5 years of ownership and is levied at the rate of 3.3% of the appraised value.. There are some on-line calculators available and the land office can give an exact figure as the transfer depends on what the Land office says its worth, not what you say its sold for. (whichever is higher). Usually transfer is shared 50/50 buyer and seller (or negotiated), other taxes are paid by the seller.

 

https://www.siam-legal.com/realestate/Transfer-of-Property-in-Thailand.php

Edited October 2, 2018 by Peterw42

[Will E Vormer]

Thank you v much!

Also these freelance estate agents springing up and texting me.. apart from demanding 3%, whats ths consensus on dealing with them?

[scorecard]

On 10/3/2018 at 9:28 AM, Will E Vormer said:

Thank you v much!

Also these freelance estate agents springing up and texting me.. apart from demanding 3%, whats ths consensus on dealing with them?

 

 

Beware...

 

 

[khunPer]

On 10/2/2018 at 9:04 AM, Peterw42 said:

Usually transfer is shared 50/50 buyer and seller (or negotiated), other taxes are paid by the seller.

Normally seller pay taxes, and buyer pay transfer fee; 50/50 could be a result of a negotiation.

[khunPer]

On 10/2/2018 at 8:49 AM, Will E Vormer said:

My wife and land office have confused me abit. Is this correct?

Yes, if property has been owned for less than 5 years, business tax apply.

 

Don't forget personal income tax???? – "The land department has an authority to withhold the income tax immediately upon the registration of sale/transfer of property" – you can find a property tax calculator here, and a detailed description here...????

[Sydebolle]

Believe me, this is where the boys are getting the loose change for the submarine farts. The tax is levied on the sales price THEY insert and it is on the SALES price and not on the appreciation only. So, if a plot of land is purchased and split (i.e. a village/compound), subsequently sold on they get 6.6% (twice) which is a staggering 13.2% on their assumption of price. 
The irony goes further; I had two plots of land, one adjacent roadside and, purchased later on, a second plot next to it without direct access to the road. I sold both places this spring.  Their price assumption on the first (much better located) land purchased 19 years ago was B 2500/w2 (B 625m2), the second plot purchased 12 years ago was six times higher. Tax rate on the first plot was initially 6.6% and only corrected upon telling them, that I owned it for more than five years. The price reduction on the second plot was a matter of some non-receiptable outlays, apparently. 
If they would have reasonable taxation rates on the appreciation, then everybody would pay - until then it remains the crystal ball peering into a dog‘s breakfast ????