Condo sale tax amount

[Destiny1990]

A condo is sold for 2,2 M Bht and the fees will be split 50/50 between buyer and seller. The condo was owned 6 years by the seller.

Then what tax/fees amount is for the seller and what tax/fees amount will be for the buyer upon transfer the unit at Landoffice?

????

[scubascuba3]

You've agreed 50\50 fees, was it thai company? fees are higher

[OneMoreFarang]

I recently researched the topic of who pays what. The summary is: Up to you!

There is no fixed you pay this and he pays that.

I arranged that the seller pays everything. Obviously in a way I still pay for that as the buyer but any hassle at the land office was avoided.

[Destiny1990]

Was hoping for a calculation of the fees and the amounts specified payable for the buyer and seller.

Edited May 8, 2022 by Destiny1990

[scubascuba3]

5 minutes ago, Destiny1990 said:

Was hoping for a calculation of the fees and the amounts specified payable for the buyer and seller.

there you go

[Peterw42]

A breakdown of the individual fees/taxes, and who usually pays them, on website below.

 

50% of the 2% transfer fee only, used to be the standard, but you will find 50% can mean half of sellers tax as well. (needs to be clarified during negotiations) In Pattaya for example 50/50 means half of all taxes/fees.

 

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

 

Edited May 8, 2022 by Peterw42

[Destiny1990]

25 minutes ago, scubascuba3 said:

there you go

Is it correct that the business tax of 3,3% is waived in case owning the property for longer then 5 years?

[Peterw42]

18 minutes ago, Destiny1990 said:

Is it correct that the business tax of 3,3% is waived in case owning the property for longer then 5 years?

Only for a private owner, who lived in the house (name in blue book). A company owner (or house rented out, vacant etc) pays the 3.3 no matter what.

BUT, if an individual occupies for 5 years etc and avoids the business tax, then the withholding tax is more, as it is calculated by number of years owned. (the longer you own it the more withholding tax.

Edited May 9, 2022 by Peterw42

[scubascuba3]

5 minutes ago, Destiny1990 said:

Is it correct that the business tax of 3,3% is waived in case owning the property for longer then 5 years?

i don't think so because i bought from a thai company and they'd held it for 10 years and I ended up paying half of 6%

[Peterw42]

5 minutes ago, scubascuba3 said:

i don't think so because i bought from a thai company and they'd held it for 10 years and I ended up paying half of 6%

As above, an individual owner/occupier doesn't pay if over 5 years etc, but a company cant avoid the business tax.

[Henryford]

As clear as mud. Would be useful to see some worked examples of the sale of a condo under farang or thai ownership.

[Peterw42]

6 hours ago, Henryford said:

As clear as mud. Would be useful to see some worked examples of the sale of a condo under farang or thai ownership.

A couple of the legal company websites have examples/workups of the fees/taxes.

[FriendlyFarang]

If I would ever want to buy a condo, I would just ask the seller: "You pay all fees. How much do you want for the condo?"

What's the point of splitting thee fees etc. other than causing confusion?

[scubascuba3]

12 minutes ago, FriendlyFarang said:

If I would ever want to buy a condo, I would just ask the seller: "You pay all fees. How much do you want for the condo?"

What's the point of splitting thee fees etc. other than causing confusion?

Splitting the fees is easy, i guess the buyer could pay more for the condo and the seller pays all fees

[Pooreye]

Splitting all fees is the sugar-on-top money for the seller! We recently bought a house and the sellers friend tried to make us split everything, even the taxes! But we agreed to split the 2% transfer fee only. (2% of registered value, not sales value)

[RafPinto]

40 minutes ago, Pooreye said:

Splitting all fees is the sugar-on-top money for the seller! We recently bought a house and the sellers friend tried to make us split everything, even the taxes! But we agreed to split the 2% transfer fee only. (2% of registered value, not sales value)

You mean "SHE" bought the house and "YOU" paid for it.

[Pooreye]

Haha yes basically correct! She took out a mortgage on half the price, I paid the other half. Money probably lost if we fall out in the future.