A Break Down Of The Land Office Taxes.

[happyjune]

Lets assume selling price and official land office appraised is the same.

Selling price is 4,000,000 (4 Million)

Owned for 6 months.

Land, no house, but land been improved.

I referenced forum sponsor Sunbelt for these figures, found it help full.

http://www.sunbeltlegaladvisors.com/Thailand-Property-Registration.php

If anyone thinks I made a mistake, please let me know.

1 /

Specific Business Tax of 3.3% dues to less than 5 years of ownership.

132,000b

2 /

Stamp of 0.5% duty not required as Specific Business Tax of 3.3% has been paid.

3 /

Transfer Fee of 2%.

80,000b

4/

Capital Gains Tax not required for non company.

5/

Income Tax ( Withholding Tax )

If sold after 6 months of total ownership, regarding the deductible allowance should we use '1 year 92%' or is it 100% as one year has not been completed?

For this, going to assume 92% divided by 1 year.

4,000,000b deduct allowance of 92% that is 3,680,000b = 320,000b

320,000 divided by 1 year = 320,000

Put that into the progressive tax scale,

first 150,000b = 0% tax

next 170,000b at 10% = 17,000b

then 17,000b multiplied by 1 year = 17,000b Withholding Tax payable

Specific Business Tax : 132,000b

Transfer Fee of 2% : 80,000b

Withholding tax of : 17,000b

Total : 229,000 baht payable to the land office

Things that may effect it that I can't find information on,

I read in some old information about it being cheaper if the owners residence is registered on the propriety, possible for more than 12 months.

Small amount of fees less than 500b for papers and stuff.

[Boater]

is the land held by a company?