Land ownership transfer fee in Thailand

[Emeraldisle]

A Thai friend's mother recently passed away in Thailand. 

The deceased person owned 4 rai of land, which was used for rice growing,  and a house in or near  Khon Kaen  city. 

He now wants to transfer the ownership of the land and house into his name. 

He has no brothers or sisters.

Has anybody here any idea what the transfer fee is likely to be and how is it calculated?

Thanks for your help

[Peterw42]

Transfer fees are  2% of the land office appraised value 

 

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

[Emeraldisle]

Thank you so much for the information and the link. 

[smutcakes]

For what its worth, if the owner is an individual and has owned the land for more than 5 years, there is no Specific Business Tax payable. They could also be exempt should the house of been their registered residence.

[Kiujunn]

On 12/15/2020 at 8:56 AM, Peterw42 said:

Transfer fees are  2% of the land office appraised value 

 

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

I heard transfer fees will go up next year. 

Is that true?

[Peterw42]

1 minute ago, Kiujunn said:

I heard transfer fees will go up next year. 

Is that true?

I dont know, I haven't seen anything in that regard..

[H508]

I'm just starting this process myself. But, FYI, the land office in my local district in Maha Sarakham told me it was 1% of the land office appraised value. So, the 2% above might be different regionally (ie, Samui is higher vs the middle of nowhere field I'm transferring from my wife's dad to her name (thai wife, I'm from usa)). It also might be different in the case of death vs living transfer :shrug:

 

It's been a bit of a pain in the ass between calling the land office, the consulate in the US, and the bank that holds the loan to get all this squared away), so hopefully your friend is in Thailand to go the land office in person vs my wife and I living in the US and having to get a Power of Attorney to do the transfer for us in Thailand.

[Kiujunn]

Rumour has it that the transfer fee (or the business tax?) is or will be waived during covid 19.

Can anybody confirm this? Or is it just a false rumour?

[mfd101]

My experience in 2016 in Surin suggests that, when purchasing land (as opposed to inheriting), there can be quite a difference between the price actually paid & the price declared to the Land Office ...

[Mike Rodik]

isn't there a discount during covid ?

[StevieAus]

3 hours ago, mfd101 said:

My experience in 2016 in Surin suggests that, when purchasing land (as opposed to inheriting), there can be quite a difference between the price actually paid & the price declared to the Land Office ...

It seems quite a common practice where I in the North for people to only declare the Land Office valuation rather than the purchase price in order to reduce the transfer fee cost.

We have bought several blocks over the years but insisted on recording the purchase price, particularly as they have been owned for more than five years, therefore lowering the fee and the fact that we and the seller have split the cost of the transfer fee.

[KhaoYai]

7 hours ago, mfd101 said:

My experience in 2016 in Surin suggests that, when purchasing land (as opposed to inheriting), there can be quite a difference between the price actually paid & the price declared to the Land Office ...

Quite often yes but I believe the Land Office work the tax out on their own valuation.  I am unsure but I think its based on the higher of the 2 figures.  For example, if their valuation is 2 million and the price paid is 3 million, tax is payable on 3 million but if the price paid is 1 million, tax is payable on 2 million.

 

As I say, I'm not sure that they use the higher of the 2 figures but I do know that they use their own valuation in cases where a reported transaction is less than it.