Thailand Property Taxes for Condos, Villas, or Houses

The following is an overview of property taxes in Thailand and how they are calculated.

Transfer Fee —charged by the Land Department and collected on the day of ownership transfer

Withholding tax—varies slightly depending on ownership (individual or company) If the seller is an individual, withholding tax is calculated at a progressive rate based on the appraisal value of the property

Stamp Duty—only payable if exempt from business tax

Business Tax—levied on companies and individual owners who have held the property less than five years

Q: If I buy a property in Thailand, am I taxable in my home country?

• Thailand and your country may have a Double Taxation Treaty which states that income from real estate is taxable in the Contracting State where the property is located.

• Take Hong Kong & China as an example, it has a Double Taxation Treaty with Thailand. In that case, when buying an apartment or a house in Thailand, it will be Thai taxation only which will apply to Thai rental income.

• However, if you are a US citizen or if your country does not have such a treaty with Thailand, you will need to check with the competent authorities and lawyers of your home country.