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If I no longer want to keep a property in Thailand, what are taxes and fees on a sale of property in Thailand? How should I transfer my money out of Thailand?
Requested and Answered by Authority on 05-Mar-2009 11:25 (3539 reads)
A person earning money from selling property in Thailand, is taxed a withholding tax (from 0 to 37%) A specific business tax of 3.3%, of the appraised price or the purchase price whichever is higher, must be paid in case that the buyer has a property in his possession for less than 5 years. The fee of transfer of ownership is 2% of the appraised price. A government stamp must be paid only when a specific business tax is not applicable.

With regards to transferring money out of Thailand, you must bring your bank account documents and a passport to the bank to arrange a transfer. A transfer of more than $20,000 USD must be informed to the Bank of Thailand. A transfer of more than 2,000,000 baht must be informed to the Anti-Money-Laundering Office.

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