Transfer tax on real estate

[WhyamIhere]

Has anyone heard of reductions in transfer fees on real estate sales/purchasing?  A realtor told me that the tax was reduced on low priced homes/condos; however, still remains at 6.5% on the higher priced properties, 3.25% if owned longer than 5 years.

[Peterw42]

Transfer fees are a percentage of property value so will be less is the value of the property is less.

 

The transfer fee is 2% of the assessed value and paid by either buyer, seller or both, usually negotiated during sale.

 

Business tax is 3,3% and paid by the seller, and not paid if the property is held for more than 5 years or if the property is the sellers principle residence.

 

There is no 6.5% transfer fee or tax

 

• Transfer Fee 2% over the appraised value of the property
• Business Tax 3.3% over the registered (sale) value or appraised value (whichever is higher)
• Stamp Duty 0.5% over the registered value
• Withholding tax;
  • if the seller is a company withholding tax is fixed at 1% over the registered sale value or appraised value (whichever is higher)
  • if the seller is a private person withholding tax is calculated at a progressive rate based on the appraised value of the property 

https://www.samuiforsale.com/knowledge/real-property-transfer-taxes-and-fees.html

Edited April 14, 2020 by Peterw42