Does Anyone Know The Answer?

[Dazzler]

I am currently living in my own purchased condo in BKK.

If I am registered as living there for one year, then I gather the sale of the condo would not liable to Business Tax.

Where do I need to register; with the Jurisitic, Immigration...?

Is this registration retrospective? I have lived in the condo since purchasing last August, so wish the registration to start from the time when I moved in.

Thanks

[trajan]

I was advised by a lawyer that if your name is on the household registration book (the "tabien baan" booklet) for at least the one year period before you sell, you are exempted from the 3.3% specific business tax ....I dont believe you can registrer retrospectively...I had to show up at a metropolitan district office (having jurisdiction over the particular district where the condo is located) to get my name in the "tabien baan" booklet...a lawyer handled everything, so I just basically waiied the officer, signed docs and provided a few pictures....super quick and smooth...

alternatively, if you hold the property for more than five years (regardless of the household registration), you are also exempted from that tax...

but the sale is still subject to:

*a nominal stamp duty (if you dont pay the specific business tax),

*a government transfer fee (I think 2% of government assessed value which is usually alot less then the actual sales price),

*personal income tax withholding on any sales gain (calculated according to a complicated formula) and

*(if applicable) a real estate broker's fee of usually 3% of the gross sales (or whatever amount you have negotiated).......