Hello,I have a question.Is it true that if a Thai buys a property,they must hold it for five years or pay a hefty government tax?My wife tells me this,is she lying?

Maybe maybe not, sometimes the government actually gives property to people but they must hold on it for a certain of length of time before they can sell it. Taxes got me.

I believe it is true that you have to pay a tax if you sell before 5 years.I don't know what it is,but you could check at the land office!

I remember reading about it from a post by Sunbelt,I think.

If property is transfered within 5 years there is an additional tax but I think it is only about 3.5%. Your wife or another Thai person would have to check with the land office to be sure of the exact amount because I believe that it depends on the type of land/property being transfered.

dougness wrote:Hello,I have a question.Is it true that if a Thai buys a property,they must hold it for five years or pay a hefty government tax?My wife tells me this,is she lying?

There is a business tax of 0.11% levied against an owner who has been in registered possession of the property less than 5 years.

In addition to that there is also income tax 1-3%, but that is not time related. It can be part of bargaining process to accept pay that income tax instead of the seller.

Selling condonium there is a business tax 3,3% if property has not been owned 5 years. So this is not a simple answer, because tax rate varies if property is land or condo.

Thanks to all.Next time I won't be so lazy and will do a search.I found what I needed under the post,"compilation of land rules/tax".My wife stretched the truth a bit,TIT.

Hey female ain't she