Land Office And Revenue Dep

[highdiver]

At a thai wedding last night. the main discussion around the table by some of Samui's influetials is the investigation into all the land deals in the past 6 years are checked by a special task force.

they are comparing the registerd prices and the market prices and even calling up buyers to find out how much they realy paid for the land.

many land deals were made by registering the sale price in the land office, way below the true price as to avoid taxes.

some developers were alreday called in for serious questioning about the diference of the sale price and the registered price.

[sbk]

Isn't this the task force that came in last year after the bandidos and influential people land scandals?

[Rinrada]

Davids Bs ( and posh ) Drum now under scrutiny from some /couple of non elected squaddies...........yea sure

[vilkas]

If this true how many on the island not affected, lets face it the lawyers on the island reccomended to buyers that they buy land this way.

[Rooo]

You pay the tax, on the land office's assessment .

[Kiiniow]

You pay the tax, on the land office's assessment .

Incorrect...and THAT is why many folks may be in trouble.

The transfer fee is based on the land office's assesed value.

The personal income tax (if the seller is an individual not a company) is based on the land office's assesed value.

The specific business tax (or the stamp duty when applicable) and the corporate withholding (if the seller is a company) is based on the land office's assesed value OR the actual sale price whichever is higher...that's the law.

[womble]

Does anyone know the address or contact number for the office that deals with samui taxation, all taxation on business, not just that related to land.

Is it in Surat?

[Rooo]

You pay the tax, on the land office's assessment .

Incorrect...and THAT is why many folks may be in trouble.

The transfer fee is based on the land office's assesed value.

The personal income tax (if the seller is an individual not a company) is based on the land office's assesed value.

The specific business tax (or the stamp duty when applicable) and the corporate withholding (if the seller is a company) is based on the land office's assesed value OR the actual sale price whichever is higher...that's the law.

I don't understand, you are still saying on Land Office assessed value,until point 3 which is one or the other.

Now if you buy land of an individual,you pay Land Office assessed value,am I correct there?

[Kiiniow]

You pay the tax, on the land office's assessment .

Incorrect...and THAT is why many folks may be in trouble.

The transfer fee is based on the land office's assesed value.

The personal income tax (if the seller is an individual not a company) is based on the land office's assesed value.

The specific business tax (or the stamp duty when applicable) and the corporate withholding (if the seller is a company) is based on the land office's assesed value OR the actual sale price whichever is higher...that's the law.

I don't understand, you are still saying on Land Office assessed value,until point 3 which is one or the other.

Now if you buy land of an individual,you pay Land Office assessed value,am I correct there?

In that case the personal income tax paid is based on the land office assesed value, not the actual price paid BUT even in that case the actual value must be reported (if higher than the assesed value...and it always is) for purposes of the specific business tax or stamp duty (whicheve is applicable).

[vilkas]

You pay the tax, on the land office's assessment .

Incorrect...and THAT is why many folks may be in trouble.

The transfer fee is based on the land office's assesed value.

The personal income tax (if the seller is an individual not a company) is based on the land office's assesed value.

The specific business tax (or the stamp duty when applicable) and the corporate withholding (if the seller is a company) is based on the land office's assesed value OR the actual sale price whichever is higher...that's the law.

I don't understand, you are still saying on Land Office assessed value,until point 3 which is one or the other.

Now if you buy land of an individual,you pay Land Office assessed value,am I correct there?

In that case the personal income tax paid is based on the land office assesed value, not the actual price paid BUT even in that case the actual value must be reported (if higher than the assesed value...and it always is) for purposes of the specific business tax or stamp duty (whicheve is applicable).

This is right

I was "advised" by two differant lawyers to pay tax on assesed value and only later informed that claims could be made on the value of sale/purchase price,i got a bit nervous when i found this was the case. I know a couple of people whove fallen foul of this and been taxed and fined. Many people can be hit on this and not just foriegners

I guess the rule is check, then check again

And then find out for yourself

Edited September 4, 2007 by vilkas

[womble]

Does anyone know what % of value you pay when registering a lease at the land office?

i.e, if you register 30 year lease as total rent paid over 30 years how much tax should be paid.

[highdiver]

to make things easier

the tax you pay is according to the true purchase price and not according to the land assesment price.

if you sell land that is assesed as 500,000 for 5 milion then you must pay tax according to the price you sold and not the assesed price.

many Thai and then later Forigners have for obvious reason descided to report the sale at the land office as the assesed price or near it while actually selling it for much higher thus avoiding taxes and capital gain taxes.

the new investigation is chaeking all the land deals retroactively 6 years for plots of even halve a Rai.

Many sellers have allready been notified of the tax burdon they need to pay and many more are expected to be sent notices of tax payment.

the intrest on unpaid tax is very high .... so a person that sold land and declared it under the true selling value will be charges the original tax he had to pay and then the intrest will kick in.... on several years this can grow into a substantial amount.

There are many people on Samui Thai and forigners that are going to be in a big problem.