Land office taxes

[franckpattaya]

Hi,

I would like to sell a condo (in my name) that I bought 20 years ago.

The registered value by Chonburi Land Office is 1.400.000 Baht.

What amount would I have to pay ( I don't want to share it with the buyer) ?

Thanks

[canopus1969]

Take the Title Deed to the Land Office and they will tell you

[scubascuba3]

ok my guess is 3% * 1.4m = 42,000 baht + unfathomables

[couchpotato]

As you have owned the Condo for 20 years (in your own name), the amount will be about 70,000 baht.

That includes Transfer fee, Stamp Duty and Witholding tax. 

Hope that helps.

[scubascuba3]

26 minutes ago, couchpotato said:

As you have owned the Condo for 20 years (in your own name), the amount will be about 70,000 baht.

That includes Transfer fee, Stamp Duty and Witholding tax. 

Hope that helps.

can you show the calculations?

[couchpotato]

11 minutes ago, scubascuba3 said:

can you show the calculations?

Transfer fee is 2%

Stamp is 0.5%

Withholding tax is on the Thai individual tax deduction tables, and is approx 35,000 baht if you've owned for 12 years, so actually you could be in for another 10k or so because you've owned 20 years. Only the land office can give you the correct figure on WT.

 

Note:::: you pay more witholding tax the longer you have owned.

So you need to think of 80k (my earlier calc was on 12 years owned, not 20).

[couchpotato]

1 hour ago, couchpotato said:

Transfer fee is 2%

Stamp is 0.5%

Withholding tax is on the Thai individual tax deduction tables, and is approx 35,000 baht for your situation.

Note:::: you pay more witholding tax the longer you have owned, up to a maximum of 8 years.

(so 20 years is still 35,000 baht).

I have amended the above--now is correct..

So your Land office payment will approx 70,000 baht as I previously suggested.