Income Tax On Inherited Property

[Supat137]

I tried searching the site but couldn't find a good answer to the question:

If I've inherited property in Bangkok and want to immediately sell will I have to pay income tax or is there some sort of exemption? I found an article on the calculation and it looks like I'll have to pay up to 37% on half the sale price no matter what. Let me know if you know of any way to reduce the taxes as most people have been claiming it should be close to 0%.

Thank you!

Supat

[happyjune]

How do you come up with 37% on half the sale price ? Even if you bought it and sold it the next day that is way off the mark.

I do not know about your question though. It is a good question I have not seen covered here.

[happyjune]

Although very similar, but not income tax. We are looking at some land, the chap inherited it from his farther 10 years ago but never changed over the chanote, he is doing that this week, then plans to sell the plot. He wants us to pay the taxes of the sale to us. Would the land office consider that he owned the property for less than one year for the with-holding tax etc that become less over time?

Thanks

[happyjune]

Can anyone help with this?