2% of the value of the condo unit as appraised by the land office.whether it is the buyer or seller who is subjected to pay the transfer fee depends entirely on the sale and purchase agreement. Upon the day of ownership transfer , the transfer fee is paid to an officer at the Land Office where the land is located.
- 2 Lease Registration Fee :
If the term of a lease is 3 years or less, registration of that lease is not required in order for it to be legally enforceable. Leases exceeding 3 years, up to 30 years, should be registered with the land office in order to ensure enforceability in court.
Currently, the lease registration fee is 1% of the total rental fee over the entire term of the lease agreement. This cost is often borne equally by the lessor and lessee upon mutual agreement by both parties.
- 3 Specific Business Tax (SBT) :
SBT is payable by companies and individuals who wish to sell a property which they have held for less than a period of 5 years. The tax rate is 3.3% (including municipal tax) of the selling price or the official appraised value of the property, whichever is higher.
Stamp Duty is imposed at varying rates on certain legal instruments. For leasehold property, the stamp duty rate is 1 Baht for every 1,000 Baht, or fraction thereof, of the total rental fee over the entire term of the lease agreement.
For the purchasing of Property, the stamp duty is only applicable in cases where SBT is not applied. The Buyer or Seller is subject to pay 0.5% stamp duty based on the official appraised value or contracted Sale price,whichever is the higher.
- 5 Withholding Tax (WHT) :
Where the Seller is a company, the WHT is calculated at 1% of the Land Department’s official appraised value or contracted Sale price, whichever is the higher.
An individual who earns income from selling a property,which includes condominium units, is subject to withholding tax under the Revenue Code of Thailand. The withholding tax is calculated at a progressive rate based on the official appraised value of the property, with deduction proportional to the number of years of possession.
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