Capital gains tax

mahdam

mahdam

Surin Founding Father
Approximately three years ago, we bought two Rai of land over near Hoi Senang lake.
We bought it as an investment, and now have someone interested in purchasing it.
My Sis in law says she thinks we may be liable for some sort of capital gains tax
on the sale as we have not owned it for five years.
Can anyone throw any light on this?
 
I agree. The purchase/sale price is irrelevant. You (or the buyers) will be required to pay tax on what the land office reckons it's worth. It used to be 2.5% but that could have changed. Make sure it is clear between you and the buyer who will be responsible to pay the tax.
 
The tax is often shared 50/50 between buyer and seller.. As Yorky says make sure there is no doiubt in either parties mind as to who pays what
 
You'll may well involve a lawyer in the sale of real estate particularly in Thai language.
Your lawyer representing your interests (above THB 300,000) should be able to spell out the tax ramifications or seek out the advice from an accountant.

SHOULD is the operative word.
 
Why add extra expense to the sale of a parcel of land, on top of the tax payable. I have been directly involved in the sale/purchase of 2 condos, 1 house and 2 pieces of land, all without the use of a lawyer Very straightforward with a Thai speaking person, such as Mahdam's wife as in this case.
 
Coffee said:
You'll may well involve a lawyer in the sale of real estate particularly in Thai language.
Your lawyer representing your interests (above THB 300,000) should be able to spell out the tax ramifications or seek out the advice from an accountant.

SHOULD is the operative word.
Click to expand...

Why above Bht 300,000.00?
 
You must log in or register to reply here.
Back
Top