Sell Property After 1 Year.

[thai4u]

Hi ,

I am a little (a lot) confuse about the tax and transfer fees in the land office.

If I own a property for only 1 year.

sell 1.5 million baht.

How much the tax I will need to pay?

How much the transfer fee from me to the new owner?*I rerad have some deducation system but couldnt figure it out clearly anough to be sure.

Many thanks.

[backflip]

"How much the tax I will need to pay?"

The tax you pay depends upon how much profit you make from the sale, not unlike the US, the UK, Australia...

[thai4u]

bought 1.2 (exclude transfer fee).

sell 1.5.

How much will it cost the tax and transfer?

Own it 1 year only.

[nitram]

As far as I know, the taxes and transfer fees are based on the estimated price decided by the Lands department. So I will assume that as you bought and sold at approx 1.3 million Baht....that a very rough guess on the estimated price will be approx 600,000 Baht. And the tax on that will be about 40,000 baht. Business tax :20,000 baht. Withholding Tax:5,000 Baht. Transfer Fees: 15,000 Baht.

Hope this helps

[thai4u]

Thanks Nitram, but I would like to know how u ceculate these numbers.

what precent from what ?

What is the exact system to ceculate it ?

[quiksilva]

Here ya go, see my reply in this thread:

http://www.thaivisa.com/forum/index.php?showtopic=116745

[nitram]

There are a couple of web sites that I have seen that either explain how the taxes work or work out the taxes for you.

http://www.acuterealty.com/calculator.asp

http://www.p-property.com/transfer_fees.html