Business Tax Of 3.3% When Selling Property

[Jean Pierre Jacquot]

Dear friends/experts out there,

Plan to sell my condo in Bangkok which I owned for 3 years. Now I saw that there is a 3.3% business tax called SBT (Specific Business Tax) if the owner did not held the property for a total of 5 years, unless the property was the principle place of residence of the owner for at least 1 year. There is something mentioned of my name needs to be included into the ‘dtabian baan’ which seems to me rather difficult as a foreigner.

Anyhow, I am wondering what kind of proofs are accepted. I was there with my family for a total of 1.5 years before going upcountry again and would have all sorts of proofs. Like I could ask the building manager to acknowledge that I was there, my son went to a school nearby and my one year ‘Thai Wife’ visa was extended in Bangkok on base of me residing in this condominium. My wife was as well registered in the dtabian baan for about 7 months.

Do you think this is enough in order to avoid that tax? I think that they should especially accept the extension of the one year visa based on my proof that I do reside in that address with my family, no?

Thanks so much!

Cheers

Jean-Pierre

[MYKTHEMIN]

Unlucky, you will have to pay the tax, I had a house in BK in wifes name and just sold and she was in the blue book for over 5 years and still had to pay the transfer tax, a bit like stamp duty in uk.

[MYKTHEMIN]

The buyer also has to pay some tax, a lot more than the seller.

[ballbreaker]

The buyer also has to pay some tax, a lot more than the seller.

Only true if buyer does poor job of negotiating.

I was buyer and sellers transfer cost were much greater than mine.

[MYKTHEMIN]

The tax is paid at the land office at the time of transfer, and you cannot negotiate there!!