Selling a property - Specific Business Tax

[rak sa_ngop]

Have there been any changes to the property regulations recently?

 

Specifically I am referring to the  Specific Business Tax:

 

I quote from one website :

 

"Specific Business Tax (SBT) is payable by companies and individuals who have owned the property for less than five years. It is based on the official appraised value or the contracted price, whichever is highest.

An individual may be exempt from SBT if they have used the property as their principal residence and have had their name in the household registration certificate for at least one year."

 

Does the exemption for selling within 5 years having had the owners name in the household registration certificate for at least one year still apply?

 

The reason I ask is that I have been told that this is no longer the case.

 

I would appreciate some informed replies this question.

 

Thanks

 

[juehoe]

It is still in case - at least here in Hua Hin.


Sent from my iPhone using Thaivisa Connect

[blackcab]

Yes, the exemption still exists. After year 1 and before year 5 you will pay stamp duty instead.

 

Not all Land Offices "offer" this information - the owner needs to politely request the correct treatment of it's not forthcoming).

 

(In a Land Office near to Pattaya my wife was recently offered a reduction in fees in exchange for tea money. It turns out their idea was to charge SBT unless they got 5k. Then they would charge the correct rate instead. 

 

They just rely on ignorance to pull this off).

[rak sa_ngop]

Thanks for this valuable info guys. Yes, a Thai friend in Pattaya was told that the SBT exemption for a sale  less than 5 years with one years house registration no longer exists. Not sure who told him.

 

Thanks again.

[SOTIRIOS]

...be ready to be misinformed (lied to) ....and cheated out of any amounts possible....

 

...that particular individual will then give you a few papers to sign.....

 

...and they will be authorized to collect whatever money you allegedly owe....

 

...or if there is any money to be returned to you or refunded.... stating that you agree to allow them to collect on your behalf....

 

...and on...and on...and on.....

 

...add anyone to 'the chain' and they will be easily 'turned'....

 

...hapless foreigners welcome....for this reason....