Sale Land and house Income tax

[Destiny1990]

We own a land and a house its splitted for over 15 years.

land 3M and house 7M.

in case of a sale will there be income tax for the sellers? If so than what will be the amount?

[khunPer]

On 12/12/2023 at 4:11 AM, Destiny1990 said:

We own a land and a house its splitted for over 15 years.

land 3M and house 7M.

in case of a sale will there be income tax for the sellers? If so than what will be the amount?

Yes.

If owner registered in house book there will be a 50% deduction of appraised property value (land+house), the value will be divided with 10 – or split over 10 years – and income tax calculated for each year without any personal deductions; i.e. starting at 5% for each year.

 

The is an excellent property sales tax calculator HERE.