Revenue Tax On Transfer Of Condo

[tangoll]

I have held ownership of a condo unit from 30 August 2007, and will transfer ownership on 29 August 2008. According to Land Dept, my revenue tax will be calculated on the basis of two years, ie one year for 2007 and one year for 2008. Is this correct? I thought the revenue tax was calculated on basis of length of time owned, and not on a calendar year (or part thereof) held basis.

Does anyone know which is the correct interpretation of number of years held for purposes of revenue tax calculation.

Thanks.

[tangoll]

Just completed transfer of ownership on sale of my condo unit which I held on title deed from 30 Aug 2007 to 29 Aug 2008, and Land Office calculated my revenue tax on basis of two years held. In other words, any part of a single calendar year is considered as one year.

So in the extreme case, if a unit is sold and had been held from 31 Dec 2007 and sold/transferred on 1 Jan 2008, the revenue tax calculation is based on two years of ownership. I've never heard or seen any explanation, even by lawyers based in Thailand, explain the tax calculation in this way. But this is how it's done.

Anyone else have had this done to them? Since there have been no replies to my original question/post, I assume this is a first.

[alyx]

I have held ownership of a condo unit from 30 August 2007, and will transfer ownership on 29 August 2008. According to Land Dept, my revenue tax will be calculated on the basis of two years, ie one year for 2007 and one year for 2008. Is this correct? I thought the revenue tax was calculated on basis of length of time owned, and not on a calendar year (or part thereof) held basis.

Does anyone know which is the correct interpretation of number of years held for purposes of revenue tax calculation.

Thanks.

Hello Tangoll

I do confirm that you did understand correctly: you have been owning the place for two years (and not twelve months)

[alyx]

Sorry Tangoll but I have just realised was two day old and that, by now, you have already transferred

I ll try better next time