prk888 Posted January 23, 2014 Share Posted January 23, 2014 If so then what's the latest formula for calculating transfer fees at Sattahip Land Office? There is I believe the actual sale price of course and also a Land Office valuation of the condo price. On which price are the fees calculated now? I believe fees are just under 7% Also is there stll a different lower fee calculation after 5 years of ownership? Thanks in advance Link to comment Share on other sites More sharing options...
Popular Post aveabeeror2 Posted January 23, 2014 Popular Post Share Posted January 23, 2014 The only place to get the "latest" figures is the land office,not from the experts here. Aveagoodday. (N.B. Latest) 3 Link to comment Share on other sites More sharing options...
moonseeker Posted January 23, 2014 Share Posted January 23, 2014 This might help:http://blogger.thai-realestate.net/?p=90 But as mentioned above. Take copy of chanod and go to first fl. of Land-Office and they will give you a firm number, actually they will note it on the copy for future reference. Regards. MS> Link to comment Share on other sites More sharing options...
PattayaPhom Posted January 23, 2014 Share Posted January 23, 2014 This might help:http://blogger.thai-realestate.net/?p=90 But as mentioned above. Take copy of chanod and go to first fl. of Land-Office and they will give you a firm number, actually they will note it on the copy for future reference. Regards. MS> The OP comes under Sattahip rather than Pattaya. if Sattahip the condo will be Na Jomtien/Bang Saray. Sattahip have price per sqm for condos under their jurisdiction. If they have set at THB 25,000 per sqm and you have a 40 sqm unit. Tax will be payable on 1 Million regardless of sales price less or more. Link to comment Share on other sites More sharing options...
bender92 Posted January 23, 2014 Share Posted January 23, 2014 The tax is less if you have owned it 5 years or more. 1 Link to comment Share on other sites More sharing options...
prk888 Posted January 24, 2014 Author Share Posted January 24, 2014 Following the several useful posts above (thanks for them) I made the drive to Sattahip Land Office (LO) anyway As at today 24 Jan 2014 the Sattahip LO confirmed .................. Upon seeing the condo Chanoot the LO will give current valuation/estimation of condo sales price LO can also provide breakdown of total fees based on any possible sale prices above that LO valuation/estimation This LO valuation/estimation price will be the minimum basis for fees calculation Transfer fee is 2% of recorded 'sale' price PLUS - Condo ownership less than 5 years is 3.3% of 'sale' price OR - Condo ownership over 5 years is currently 0.1% of 'sale' price if owned in foreign name. Company ownership stays at 3.3% regardless. PLUS - Income tax is 3% So total fees can be over 8% of recorded sale price OR just over 5% depending on time of ownership. Seems LO is not really concerned with the actual sale price as that is a contract between buyer and seller Buyer must still show proof of funds being brought into Thailand to cover the eventual recorded 'sale' price and get TorTor 3 (?) A useful trip and information. 1 Link to comment Share on other sites More sharing options...
thailandbeachisland Posted January 24, 2014 Share Posted January 24, 2014 Thank you ! And what the estimated price that they have at Land office ? Is it similar to the real price of the condo ? Thanks. Link to comment Share on other sites More sharing options...
Briggsy Posted January 24, 2014 Share Posted January 24, 2014 Can you reclaim the income tax if your annual income is under the threshold? 1 Link to comment Share on other sites More sharing options...
falang07 Posted January 24, 2014 Share Posted January 24, 2014 (edited) estimated price (280,000), in my case, was a little more than half of the real price I have paid (500,000) Edited January 24, 2014 by falang07 Link to comment Share on other sites More sharing options...
prk888 Posted January 24, 2014 Author Share Posted January 24, 2014 falang07 above is about right in my case ................. LO estimate/valuation just over half of my expected/anticipated sale price Sorry Briggsy I dont know the answer to that. Link to comment Share on other sites More sharing options...
JesseFrank Posted January 24, 2014 Share Posted January 24, 2014 Following the several useful posts above (thanks for them) I made the drive to Sattahip Land Office (LO) anyway As at today 24 Jan 2014 the Sattahip LO confirmed .................. Upon seeing the condo Chanoot the LO will give current valuation/estimation of condo sales price LO can also provide breakdown of total fees based on any possible sale prices above that LO valuation/estimation This LO valuation/estimation price will be the minimum basis for fees calculation Transfer fee is 2% of recorded 'sale' price PLUS - Condo ownership less than 5 years is 3.3% of 'sale' price OR - Condo ownership over 5 years is currently 0.1% of 'sale' price if owned in foreign name. Company ownership stays at 3.3% regardless. PLUS - Income tax is 3% So total fees can be over 8% of recorded sale price OR just over 5% depending on time of ownership. Seems LO is not really concerned with the actual sale price as that is a contract between buyer and seller Buyer must still show proof of funds being brought into Thailand to cover the eventual recorded 'sale' price and get TorTor 3 (?) A useful trip and information. I would think that income tax is calculated on the difference between purchase and sale price only ? Link to comment Share on other sites More sharing options...
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