Property taxes in Thailand is not the same as back home as they do not have CGT (Capital Gains Tax). There is a different system which is used as explained below. As there is no Capital Gains Tax in Thailand the income from the property sale is viewed as a normal income. This would be either in your name or in that of a company. If the property was in the name of your company the company would pay a specific business tax of 3.3% of the appraised or registered price, whichever is higher, withholding corporate tax of 1% of the appraised or registered price, whichever is higher, and other costs.
There are legal ways, through proper tax planning with a qualified Tax Attorney or CPA, to reduce your exposure to tax liabilities. Since you are preparing to invest “heavily” here in Thailand, we would suggest you consult with a reputable law firm. Speak to one of our tax attorneys at our Phuket office for further advice on the buying and selling of property and how this affects your tax. Speak to us online or via our toll-free US or UK telephone numbers.
We have listed a property transfer calculator for you on our main website.