HullyGully Posted February 9, 2013 Share Posted February 9, 2013 My question:- Do you pay one of the above taxes if you are lucky enough to left a house Also if you are a Thai or Foreignor Link to comment Share on other sites More sharing options...
Johpa Posted February 9, 2013 Share Posted February 9, 2013 I am not familiar with the tax codes in Thailand although I have never overheard anyone talking about an inheritance tax. Now there are capital gains taxes, as those taxes, and the avoidance thereof, play a large part in the public notoriety of one Thaksin Shinawat. But a capital gain would only occur upon the sale of the house and not the inheritance of the house. If there is a capital gains tax on the sale, and I do not know if there is one, then the question becomes whether Thai law asses the cost basis of the house at the original purchase price or at the time of inheritance. Link to comment Share on other sites More sharing options...
Mapguy Posted February 9, 2013 Share Posted February 9, 2013 Your question only reflects part of what you need to know about the law, both in Thailand and in your home country. This is really not the place to seek advice. You absolutely need a Thai lawyer to explain what is involved in Thailand with inheritance (especially of property), when it involves a Thai and a foreigner, and to help you sort things out in court. You can understand much --- but not all --- about the law if you buy a copy of Thai Law for Foreigners, Paiboon Press. Regarding your home country, there may also be considerations you need to understand about taxes. It depends on the country. Link to comment Share on other sites More sharing options...
HullyGully Posted February 9, 2013 Author Share Posted February 9, 2013 My understanding is a foreignor you can inherit but you have one year to sell, not sure if Capital Gains are chargeable If a Thai inherits, then again no inheritance tax, but I think Capital Gains Tax is chargeable The bottom line NO INHERITANCE TAX in Thailand, but gifts and inheritance is subject to Capital Gains Tax...not sure about tax rates Link to comment Share on other sites More sharing options...
onthedarkside Posted February 10, 2013 Share Posted February 10, 2013 This might be better in real estate, housing forum. Moving Link to comment Share on other sites More sharing options...
davejones Posted February 10, 2013 Share Posted February 10, 2013 Is the house in Thailand or in another country? Link to comment Share on other sites More sharing options...
HullyGully Posted February 11, 2013 Author Share Posted February 11, 2013 Thailand Link to comment Share on other sites More sharing options...
Delight Posted February 11, 2013 Share Posted February 11, 2013 I am curious to know the circumstances when a house can be inherited. Inheriting a condo is well documented on the web–but no info . that I can find with respect to your topic. Consider: (I am presuming an all Farang transaction.) Option 1 –The house and land are in a Company-so the beneficiary is inheriting a share of a Company-probably not a topic for this forum Option 2 –The house is sited on Leased land. The lease dies with the house owner. Therefore no house to bequeath. Are you thinking of some other scenario? Link to comment Share on other sites More sharing options...
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