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Withholding Tax

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Is withholding tax required to pay by seller when they resell a condo? Does it apply to foreigners as well?

You need to pay SBT (Specific Business Tax) of 3.3% of the value of the condo, if you sell it within 5 years.

  • 9 months later...
You need to pay SBT (Specific Business Tax) of 3.3% of the value of the condo, if you sell it within 5 years.

I read on another place that "an individual may be exempt from SBT if they've used the property as their principal residence and have had their name in the house registration certificate for more than 1 year".

Does anyone know if this is true?

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