My Thai wife has owned a second house for more than 5 years. It is not her principal residence and she has never had her name in the household registration certificate. Will she have to pay Specific Business Tax (3.3%) on the sale of this property? In other words, does the 5-year rule apply for properties that are not your principal residence?

 

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Specific Business Tax
Specific Business Tax (SBT) is payable by companies and individuals who have owned the property for less than five years. It is based on the official appraised value or the contracted price, whichever is highest. An individual may be exempt from SBT if they have used the property as their principal residence and have had their name in the household registration certificate for at least one year.

(source: phuket net)

 

 

It depends on if she owns it as an individual or through a registered company. If individual she will only pay tax on possible profit of sale with what I believe is 15%. That is after the purchase price and all other possible things to deduct is taken away.

She owns it individually. I'm asking about the SBT in particular.

The property tax-calculator HERE might answer your question...????

On 11/11/2021 at 7:06 AM, Gottfrid said:

It depends on if she owns it as an individual or through a registered company. If individual she will only pay tax on possible profit of sale with what I believe is 15%. That is after the purchase price and all other possible things to deduct is taken away.

Profit from sale of real estate is to both my knowledge - and also according to the tax-calculation - income tax, depending of ownership and registered in a blue book, with a deduction in the sales price/appraised value (whatever is highest) based on the number of years owned, and the income tax rate spread over the number of years owned.

On 11/12/2021 at 4:39 PM, khunPer said:

The property tax-calculator HERE might answer your question...????

According to that, no business tax payable.