Property Sale Registration - Apartments, Villas, land and Property for Sale / Rent

Property sale registration & Tax

Property sale registration & Tax
Submitted to the Land Department
Seller
Transfer fee1
SBT tax2
Withholding tax3
Individual 2% 3.3% Progressive rate
Juristic person 2% 3.3% 1%
1. Transfer fee 2% of the official appraised value  
2. SBT tax 3.3% of the actual selling price or the official appraised value which is higher.If the seller owns the land (condominium) more than 5 years, subject to duty stamp 0.5% of .the actual selling price or the official appraised value which is higher
3. Withholding tax Individual - Progressive rate of the official appraised value
Juristic person - 1% of the actual selling price or the official appraised value which is higher
Individual
Tax range
Schedule of the progressive Rate
not more than 150,000 0%
150,000 - 500,000 10%
500,000 - 1,000,000 20%
1,000,000 - 4,000,000 30%
more than 4,000,000 37%
 
Example : 
You sell the land you own for 4 years for the price of 4,000,000 baht, official appraise value is 3,000,000 baht
   
Transfer fee 60,000.00 Baht
SBT tax 132,000.00 Baht
Withholding tax progressive rate as below
   
Year of Ownership Deductible Allowance  
1 year 92%  
2 years 84%  
3 years 77%  
4 years 71%  
5 years 65%  
6 years 60%  
7 years 55%  
8 years up 50%  
 
Less 71% allowance (4 years) 2,130,000.00  
total income after deducted allowance 870,000.00  
One year income 217,500.00  
Tax range 10% (not more than 500,000) 6,750.00  
total withholding tax of 4 years 27,000.00  
 
Note : For personal income tax, the seller has 2 choices for tax submission to The Revenue Department
1. submit income tax and calculate by progressive rate (more income, more tax paid)
2. not submit this income as already paid at the Land Department at 27,000 Baht. (***mostly used)
Juristic person
Example : 
You sell the land you own for 4 years for the price of 4,000,000 baht, official appraise value is 3,000,000 baht
   
Transfer fee 60,000.00  
SBT tax 132,000.00  
Withholding tax 40,000.00  
   
Note : Income of Land Sale has to be shown in the Financial Statement to calculate the corporate income tax
   
Tax Rate
1. 30% (share capital over 5 MB)
2. SME (share capital not over 5 MB), see tax range below :
  1-150,000 0%  
  150,001-1,000,000 15%  
  1,000,001-3,000,000 25%  
  3,000,0001 over 30%  
         

Phuket properties