Current land transfer tax

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barrys
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Current land transfer tax

Post by barrys »

I've tried a search but could only find threads from some years back.

Can anybody please tell me what duties/taxes have to be paid for the transfer of land only (no house, buildings, etc.) from one private individual to another.

Thanks very much.
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buksida
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Re: Current land transfer tax

Post by buksida »

As far as I'm aware:

Less than 5 years owned - 8.3% of land office decided value
More than 5 years owned - 3.3% of land office decided value

This may have changed though and may vary from land office to land office.
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jingjoe
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Re: Current land transfer tax

Post by jingjoe »

i was at the land office yesterday and the owner transferred the land to us,she wrote down the value of land as 400 000bht which was not the price, her total tax/bill to land office was 20 000bht she had owned the land a long time and had recently divided the 2rai in half.
I'd like to add no costs for us ,we could of gone alone to the land office,but we had a lawyer just to check docs,names etc etc.
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barrys
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Re: Current land transfer tax

Post by barrys »

Thanks for that but I'm still a bit confused :?

I have been looking at the various law firm sites and they say 2% government transfer fee, 0.5% stamp duty and 3.3% business tax (incl. withholding tax) to be paid by the vendor if he/she has not owned the land for 5 years - is that still current?
jingjoe
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Re: Current land transfer tax

Post by jingjoe »

im really not sure of the breakdown either,the vendor had no money to pay tax with.
All i know i we provided 100 000bht in cash plus cheque for balance.Vendor stated sale price was 400 000 bht and our solicitor gave the land office 20 000bht and then the balance of the 100 000bht to vendor ,plus cheque,the 20 000 covered all stamp duties,taxes etc.
So i guess if you budgeted for 5% tax/fees/duties it would be about bang on target.
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Re: Current land transfer tax

Post by Clivep »

Hi JingJoe,

Recently had the figures I quoted on our previous thread for 'Selling Condo, buying house -tax implications' confirmed by my local land office - the tax and 0.5% Stamp Duty were assessed on the Government Valuation (which in my case was about 60% of market value) and the 2% Transfer fee was based on the declared selling price. I'm told land only transactions follow the same rules.
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johnnyk
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Re: Current land transfer tax

Post by johnnyk »

Anyone know if rates are different for a company selling a property to a Thai ndividual?
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