What about this 12.5 property tax I supposed to pay in Thailand for my real estate property. Is it a respossibility for each foreigner owning a property in Thailand? Thanks for your support and answer!
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Basically the only tax to consider is the local land development tax and a house and land tax (collected by local administrative offices). There were plans for a new more general land/ property tax (replacing the previous taxes) expected to come into effect in 2017 but this is put on hold, as it seems now (article bangkokpost section property 09 Oct 2015).
As foreigners cannot own land, when they own property on a Thai company name they need to file annual financial company accounts every year with the Thailand Revenue Department, In addition they must pay a property tax of 12.5 % of the yearly rental. When they do not pay rent to the company the rent could be assessed by the local government based on the registered appraised value of the property.
Answered 8 years ago
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