Property Taxes in Samui

Property Taxes in Samui

Property Taxes in SamuiWhen transferring land, there will be a 2% transfer fee, 1% withholding tax and 0.5% stamp duty.  If the land is being sold by a company or an individual that has owned it for less than five years, there will be business tax of 3.3%. Also, company income tax or capital gains tax for individuals must be paid on the profit.  Taxable value for calculating transfer fees is based on the higher of the purchase price or the government valuation.

The government valuation can often be significantly higher than the purchase price—and be quite a surprise to the seller and buyer.  You should negotiate with the seller to pay some or all of the costs.  If there is back tax owed on the land, it will have to be paid before transfer.

More Posts

Civil and Commercial Law

Civil and commercial law form the cornerstone of legal systems in countries worldwide, and Thailand is no exception. This article aims to provide an overview of civil and commercial law

Buying Property in Thailand

Please be aware that depending on your country of citizenship and the Thai embassy or consulate where you apply, the prerequisites and steps for receiving a non-immigrant O-A visa may

Litigation in Thailand

If you are a foreigner and want to file a lawsuit in Thailand, it is important to understand the rules regarding the court’s jurisdiction and the process for service of