How To Transfer Land Tax-Free Under New Thai Law

[webfact]

How To Transfer Land Tax-Free Under New Thai Law

By Wirot Poonsuwan, Correspondent

 

  

People have expressed excitement about the new law which enabled transferring land to a company to pay for shares without any personal income tax burden. Actually getting it done is no easy task, with hiccups here and there, as this is a novel transaction alien to officials at all three relevant government agencies: the Land Office, Revenue Office and Companies Registrar Office. It’s been a challenge to find an expert at any of these agencies to provide counsel.

 

Land transferors would need to take several trips to each of the three agencies to seek clarification until they can be sure of completing a transaction. In some areas, the advice of different agencies simply contradicts one another, resulting in an inability to register a transfer of land and the abandonment of efforts to enjoy the benefits of the new regulation. The Dec. 31 deadline is fast approaching, causing worries to those who have already set up a new company but become stuck and unable to proceed further to increase its capital and transfer land to pay for the capital increase, tax-free.

 

Full story: http://www.khaosodenglish.com/news/business/2017/07/30/transfer-land-company-tax-free-new-thai-law/

 

-- © Copyright Khaosod English 2017-07-31

[klauskunkel]

3 hours ago, webfact said:

It’s been a challenge to find an expert at any of these agencies

This is such a tongue-in-cheek statement..., I have my doubts it was deliberate.