Buying property in Thailand is a big decision, especially if you plan to live, rent out, or eventually sell the apartment...
Taxes When Buying Property in Thailand
When purchasing real estate, be prepared for required fees...
- Transfer fee — 2% of the assessed value...
- Stamp Duty — 0.5%...
- Specific Business Tax (SBT) — 3.3%...
- Withholding Tax — from 1% to 5%...
For buyers, the main item is the Transfer fee...
Taxes When Selling Property
If you're planning to sell property...
- Withholding Tax — 1% if you're a non-resident...
- Stamp Duty or SBT depending on ownership duration...
Taxes When Renting Out Property
Even if you're renting to friends or via a management company...
- Income Tax — 15% for non-residents...
- VAT — 7%...
- Property Tax — from 0.02% to 0.1%...
Failing to pay taxes can cause issues...
Example Calculation When Buying Resale Property
Let’s say you buy a condo for 2,500,000 THB, assessed value is 2,000,000 THB...
- Transfer fee (1%) — 20,000 THB...
- Other fees usually paid by seller...
- Extra services...
What Happens If You Don’t Pay Taxes?
Thailand may not ask questions for years, but when you sell or apply for visas...
Summary Table: Who Pays What
| Scenario | Taxes |
|---|---|
| Buying | Transfer fee (2%, usually split 50/50) |
| Selling | Withholding Tax, SBT or Stamp Duty |
| Renting | Income Tax, VAT, Property Tax |
| Ownership | Local property tax (in some cases) |
Conclusion
Thai property taxes aren't high, but they must be considered. Working with a trusted agency like My Thai Home ensures peace of mind and full compliance.
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