Transfer Tax Land & House

[katabeachbum]

I m going to transfer one property to co ltd.

The transfer value accepted by landoffice is 3,5 mill baht. No resident in Tabien Baan, which means they dont accept the lowest rate (3 year resident). Does anyone know what the present tax rate is?

[samILO]

IF you purchase the land already it might e too late, but currently the tax rate is lowered to 0.11 % and reg. fees also lowered. I though would not suggest to register a lower value then the real purchase sales price, as that would be committing a criminal offense to file false documents before a government official in first place and second tax fraud and third if you sell you property out of the company you are due to pay up to 30 % of tax for the profit you make, calculated from your sale minus your purchase (official price registered at land department)

[samILO]

Quick overview in details:

Disbursements for the registration of Lease and Building Ownership transfer

1. Land Lease Registration

Reg. fee 1.1% of rental

Misc. charges 1,000.-

2. Building ownership transfer

2.1 The owner is juristic person.

Reg. fee 0.01% of estimate price (normal 2%)

Company Income tax 1% of selling price

Specific Business Tax 0.11% of selling price (normal 3.3%)

Misc charges 1,000.-

2.2 The owner is ordinary person

2.2.1 There have an owner’s name in this house registration more than 1 year

Reg. fee 0.01% of estimate price (normal 2% )

Personal Income tax to be advised by the Land Dept.

Duty stamps 0.5% of selling price

Misc charges 1,000.-

2.2.2 There’s nobody in this house registration and;

A. The owner has occupied this building for 5 years onwards.

Reg. fee 0.01% of estimate price (normal 2%)

Personal Income tax to be advised by the Land Dept.

Duty stamps 0.5% of selling price

Misc charges 1,000.-

B. The owner has occupied this building less than 5 years

Reg. fee 0.01% of estimate price (normal 2%)

Personal Income tax to be advised by the Land Dept.

Specific Business tax 0.11% of selling price

Misc charges 1,000.-

** Registration fee and Specific Business tax are subject to the change of Land Regulations issue.

Note : as per the Land Ministry information, this rate is valid up until March 2010.