Selling Land Owned By Thai Company

[bowig]

I am currently weighing up an offer to sell part of my land.

I purchased this land 3 years ago, via a Thai Limited Company. I initially purchased 2 Rai.

However it is proving more than adequate for my needs, and a friend has offered to buy 1/2 Rai from me. *around 2mTHB

I am a little confused as to the rate differences between company taxes, and am struggling to find out whether i have to pay extra taxes/fees for partially dividing my plot of land.

Could anyone help on this matter and provide reliable info on what taxes i am likely to encounter.

Many Thanks in advance. Bowig

[eljeque]

I am currently weighing up an offer to sell part of my land.

I purchased this land 3 years ago, via a Thai Limited Company. I initially purchased 2 Rai.

However it is proving more than adequate for my needs, and a friend has offered to buy 1/2 Rai from me. *around 2mTHB

Go to the land office and split the chinote into a 1/2 rai plot and a 1/2 rai plot. This is cheap... a few thousand baht.

Now, the company will sell the 1/2 rai chinote to your friend.

A.

I do not know if the tax implications will be (current valuation of 1/2 rai minus 3 years ago valuation of 1/2 rai) equals profit on which you will pay corporate taxes at the commercial office for the company, and also taxes at the land office.

OR

B.

Current valuation of 1/2 rai minus valuation of 2 rai plot 3 years ago..... silly thinking? being because the expense of buying land was wa undertaken on time, and not in smaller plots. I think that A above will be correct, but it is easy to go into the land office and ask about the land taxes. This will prvide you with information which the commerical office will use to determine your corporate taxes.

My friend sold a house 70 talangwah/132 meters in jomtien beach out of a company about 2 years ago. The buyer bought the company and then removed the lan from the company. It cost her 140,000 baht. He had owned the house less than one year.

TAXES ARE DOWN NOW.

Another friend of mine is doing the same, for a 60 talangwah, 140 meter house in Suksabai Villa , Pattaya. The taxes at the commercial office will be between 50 - 80 thousand baht(will know this week). The fees at the land office were 16,000 baht. The house is 18 years old, and the current land office valuation on it is about 1,680,000. The original price on it when he bought it 16 years about was 900,000.

I am a little confused as to the rate differences between company taxes, and am struggling to find out whether i have to pay extra taxes/fees for partially dividing my plot of land.

Could anyone help on this matter and provide reliable info on what taxes i am likely to encounter.

Many Thanks in advance. Bowig

You can PM me and I will be happy to have you contact my English-speaking accountant who I have used for about 18 years on 8 houses, and have had dozens of friends use her as well, with no complaints.