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Property Taxes and Fees

Koh Samui property taxes and fees

If you purchase a property in Thailand then you need to pay four types of taxes. The tax amount depends on the value of the property. Normally the taxes are calculated on the property’s taxable value. The taxable value is usually well below the actual market value of the property.

Types of Taxes and fees

  • Transfer costs: The transfer costs are calculated at 2% of the estimated value of the property. The transfer costs are usually shared between the buyer and the seller.
  • Registering the lease: This tax is based on the total cost of the rent payable for the duration of the lease. This amount must be equally shared between both parties.
  • Specific business tax: This tax is applicable to businesses or individuals who have owned a property for less than five years. The amount of the specific business tax is 3.3% and it is based on the sales price or the initial estimated value, depending on the details in the sales contract.
  • Stamp duty: Stamp duty is only payable if the professional tax isn’t applicable. The amount of the stamp duty is 0.5% and is based on the sales price or the initial estimated value of the property. 
  • Land Tax: This is an annual tax and is equivalent to a few baht for every Rai that you own.
  • Structure usage tax: This tax only applies to properties that are being used for commercial purposes. This amount is calculated at 12.5 % of the estimated rental value of the property.
  • Legal fees: Legal fees may vary depending on the law firm that you use.

 

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