MRToMRT Posted March 29, 2022 Share Posted March 29, 2022 I have been looking at the tax implications on selling of my condo which I now understand quite well but one thing eludes me, if anyone can clarify? Theres a personal tax liability on the seller which is based on half the sales price and half the land offices's assessment price. Is that tax paid at the land office by the seller when the exchange of deeds is done, or do you settle as part of your year end tax return? Link to comment Share on other sites More sharing options...
Photoguy21 Posted March 29, 2022 Share Posted March 29, 2022 I am not sure but many years ago when me the wife sold ours it was based as a percentage of the property price. If you ask at the Land Office they they can tell you. Link to comment Share on other sites More sharing options...
userabcd Posted March 29, 2022 Share Posted March 29, 2022 (edited) There are the transfer fees - half paid by the seller and half paid by the buyer...these are paid to the land office at transfer Sellers witholding tax is paid by the seller and is evaluated by the sellers marginal tax rate on his annual return. This is paid to the tax office. This site explains it with a small example informational tax calc buy sell condo taxes Edited March 29, 2022 by userabcd 1 Link to comment Share on other sites More sharing options...
Whale Posted March 29, 2022 Share Posted March 29, 2022 (edited) Its called withholding tax. Edited March 29, 2022 by Whale Link to comment Share on other sites More sharing options...
MRToMRT Posted March 30, 2022 Author Share Posted March 30, 2022 So this withhodling tax, where and when will I be expected to pay it? Thats the bit I am not sure about. I am retired here on an O-A and dont have a Thai tax ID. Link to comment Share on other sites More sharing options...
MRToMRT Posted March 30, 2022 Author Share Posted March 30, 2022 Will I need to pay it before I can send the money back home or can I "walk away"? Link to comment Share on other sites More sharing options...
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