Million$ Properties |
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Property sale registration & Tax |
Submitted to the Land Department |
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Seller |
Transfer fee1 |
SBT tax2 |
Withholding tax3 |
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| Individual |
2% |
3.3% |
Progressive rate |
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| Juristic person |
2% |
3.3% |
1% |
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| 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 |
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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% |
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| 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 |
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| Transfer fee |
60,000.00 Baht |
| SBT tax |
132,000.00 Baht |
| Withholding tax |
progressive rate as below |
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| Year of Ownership |
Deductible Allowance |
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| 1 year |
92% |
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| 2 years |
84% |
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| 3 years |
77% |
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| 4 years |
71% |
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| 5 years |
65% |
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| 6 years |
60% |
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| 7 years |
55% |
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| 8 years up |
50% |
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| Less 71% allowance (4 years) |
2,130,000.00 |
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| total income after deducted allowance |
870,000.00 |
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| One year income |
217,500.00 |
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| Tax range 10% (not more than 500,000) |
6,750.00 |
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| total withholding tax of 4 years |
27,000.00 |
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| 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) |
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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 |
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| Transfer fee |
60,000.00 |
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| SBT tax |
132,000.00 |
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| Withholding tax |
40,000.00 |
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| Note : Income of Land Sale has to be shown in the Financial Statement to calculate the corporate income tax |
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| Tax Rate |
| 1. 30% (share capital over 5 MB) |
| 2. SME (share capital not over 5 MB), see tax range below : |
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1-150,000 |
0% |
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150,001-1,000,000 |
15% |
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1,000,001-3,000,000 |
25% |
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3,000,0001 over |
30% |
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Property of the month |
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Baan Kata Ocean Front Villa |
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| If you want to own an oceanfront property in Kata, then this stunning 4 bedroom villa on 1 rai of prime, direct ocean land is as good as it gets. Located in the private and secure enclave of Baan Kata, only a few minutes walk to both Kata Noi and Kata beaches. Baan Kata is a small gated community of only 13 high end ocean front villas and is under the same management as the Boathouse and Villa Royale, considered by many to be the best boutique hotels in southern Phuket.
The villa itself consists of 3 separate buildings with a built up area of 500 sqm on 1600 sqm of land. There are 2 large ensuite bedrooms and a generous office area which can be converted into a fourth bedroom in the main building. A separate guest bedroom and bathroom is located down near the pool with stunning ocean views. A spacious maids quarter is tucked away in the top corner of the property which could also eventually be converted into a spare bedroom.
The villa has been designed to be as much as possible in harmony with nature, which means lots of balconies, large windows, high ceilings, trees, shrubs and of course magnificent views of the sea. This villa is all about a superb location and is a great bargain at this reduced pricing. The seller is leaving Phuket and must sell.
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