cost of transfer tax

[Harveyboy]

hey folks i posted a couple of week's ago about the problem of a condo in company  name i wanted to change                     one option was to transfer it into Thai name i read it was 2% of price of property last night my wife showed me a message she had received saying now from this week it 00.01% which is basically nothing but it must be going into Thai name ..has anyone heard of this tks 

[blackcab]

Yes, transfer tax has been reduced to 0.01 per cent for properties under 3 million baht (so a maximum of 300 baht) - but for Thai nationals only. Non Thai citizens still have to pay the full 2 per cent transfer tax, or whatever percentage of the 2 per cent they negotiate with the seller.

 

The discount for Thai citizens lasts until 31 December 2022.

[sungod]

If its in a company I think you will have to pay specific business tax on top too, 3%. Then you have the cost of closing the company, about 30,000 THB depending on who you go to.

[stubuzz]

1 hour ago, blackcab said:

Yes, transfer tax has been reduced to 0.01 per cent for properties under 3 million baht (so a maximum of 300 baht) - but for Thai nationals only.

Isn't this only for new builds.

[Peterw42]

57 minutes ago, stubuzz said:

Isn't this only for new builds.

It was initally only for new builds, has been updated to be all properties under 3m

[stubuzz]

1 hour ago, Peterw42 said:

It was initally only for new builds, has been updated to be all properties under 3m

Just my luck. I had to pay full price in December!

[Peterw42]

3 hours ago, stubuzz said:

Just my luck. I had to pay full price in December!

You still wouldn't get it as it only applies to Thais

[donx]

5 hours ago, Peterw42 said:

You still wouldn't get it as it only applies to Thais

Does it apply to land purchases as well? If so, when did this come into effect? I'm curious because my wife recently bought a plot of land. She's still in Thailand and hasn't discussed the details of her transaction yet.

[Peterw42]

6 hours ago, donx said:

Does it apply to land purchases as well? If so, when did this come into effect? I'm curious because my wife recently bought a plot of land. She's still in Thailand and hasn't discussed the details of her transaction yet.

https://www.pattayamail.com/thailandnews/thailand-cuts-property-transfer-and-mortgage-fees-to-stimulate-economy-386597

[donx]

3 hours ago, Peterw42 said:

https://www.pattayamail.com/thailandnews/thailand-cuts-property-transfer-and-mortgage-fees-to-stimulate-economy-386597

Well my wife didn’t get the discount because she bought the land on January 13 which was before this came into effect. 

[Harveyboy]

21 hours ago, Peterw42 said:

It was initally only for new builds, has been updated to be all properties under 3m

tks

[Harveyboy]

23 hours ago, blackcab said:

Yes, transfer tax has been reduced to 0.01 per cent for properties under 3 million baht (so a maximum of 300 baht) - but for Thai nationals only. Non Thai citizens still have to pay the full 2 per cent transfer tax, or whatever percentage of the 2 per cent they negotiate with the seller.

 

The discount for Thai citizens lasts until 31 December 2022.

ok so im foreign my wife thai..condo value 1.4 ...close company and transfer to my wife add a userfruct at land office what would  you estimate final costs mate ..at a guess tks 

[blackcab]

You need to transfer the condominium before you close the company.

 

If you somehow manage to do it the other way around you will be in real difficulty when you get to the land office as you will be trying to sell a property from a company that does not exist any more.

[Harveyboy]

1 hour ago, blackcab said:

You need to transfer the condominium before you close the company.

 

If you somehow manage to do it the other way around you will be in real difficulty when you get to the land office as you will be trying to sell a property from a company that does not exist any more.

ok mate thanks