Pay Tax On Condo Rental Income?

[Nepal4me]

If you rent your own purchased condo out to somebody, do you have to pay tax on the rental income?

Normally do people pay this tax if in fact they are supposed to?

If you rent out to a company that uses it for one of their expats, would that raise a flag with the gov't? i.e. you would have to provide reciepts, would that make reporting the income more serious or manditory?

[kudroz]

If you rent your own purchased condo out to somebody, do you have to pay tax on the rental income?

Yes, income derived from property situated in Thailand is Thai source income and subject to tax

Normally do people pay this tax if in fact they are supposed to?

Yes, unless they are comfortable not abiding by the law

If you rent out to a company that uses it for one of their expats, would that raise a flag with the gov't? i.e. you would have to provide reciepts, would that make reporting the income more serious or manditory?

Unless that company gets audited and investigate your receipt, I wouldn't think so.

[Nepal4me]

If you rent your own purchased condo out to somebody, do you have to pay tax on the rental income?

Yes, income derived from property situated in Thailand is Thai source income and subject to tax

Normally do people pay this tax if in fact they are supposed to?

Yes, unless they are comfortable not abiding by the law

If you rent out to a company that uses it for one of their expats, would that raise a flag with the gov't? i.e. you would have to provide reciepts, would that make reporting the income more serious or manditory?

Unless that company gets audited and investigate your receipt, I wouldn't think so.

Thank you for your reponse. Further questions:

Do you know what the tax rate is on this type of rental income?

I wonder what percentage of people "are comfortable with not abiding by the law" in this particular regard? Do people often or rarely get caught for this law breaking?

[torrenova]

If you rent your own purchased condo out to somebody, do you have to pay tax on the rental income?

Normally do people pay this tax if in fact they are supposed to?

If you rent out to a company that uses it for one of their expats, would that raise a flag with the gov't? i.e. you would have to provide reciepts, would that make reporting the income more serious or manditory?

Real answer - no

Official answer - yes

Why do people go looking for problems when there are none ?