Witholding Tax On Rented Property

[bluesofa]

Can anyone reliably inform me about tax - regarding income from property?

All the following is specific to rental only, nothing to do with selling a property:

If I have this right, there is witholding tax (at 5%?)

I take it this the tax sometimes referred to as rental tax?

Is there also another property tax liable to be paid if someone earns an income from renting out a property?

If I have a company which rents out a property, does the VAT element become involved, and if so, how?

e.g. do I have to charge 5% withholding tax AND VAT (at 7%)

Also are you only liable to charge/pay withholding tax over a certain limit?

Someone mentioned you are only liable if income exceeds 60,000 Baht?

Again whether this is per month or per year was not stated.

Thanks for any help

[Moonfruit]

With-holding TAX is with-held by your tenant at source. You can then claim that 5% against your end of year tax bill. WHD is payable on any amount.

Yes, you are liable to pay income tax on your income earned from renting property of course.