Thailand Property Tax Service
The Thai government introduced the latest regulations this year. All domestic property projects are required to pay corresponding taxes in accordance with the regulations. The tax payment criteria are as follows:
✅The first property with a price of not more than 50 million baht does not need to pay any tax
➡️The owner of the same name must pay tax ranging from 0.02 - 0.1% in proportion to the property price from the second room
➡️From the second room onwards, if the property is used for rental purposes, 0.3% tax shall be paid according to the rent
The Thailand Land Bureau has also successively sent letters to the owner’s unit mailbox (the date of receipt of the letter may vary for different regions and projects). We have confirmed with the Land Bureau that the owner must verify the units listed in the letter. The information is correct, such as the actual area, property price, whether it is for self-use or rental, etc.;
🔺The letter clearly states that if the authorities later find that the information recorded by the government does not match the actual information of the unit (for example, it does not match the information listed on the deed), and the owner fails to receive the letter within 30 days A fine of not more than 10,000 baht will be imposed for reporting changes, and a fine of not more than 40,000 baht or two years' imprisonment or both for deliberately reporting false information.
☑️ Therefore, we suggest that the owner should report the existing property information to the Land Bureau, so that the relevant parties can verify and confirm