Will this affect those who are simply transferring land, no money involved? To be a bit more clear, a chanote in parents name being put in daughters name. Will there still be a tax/fee on the appraised property value? Just wondering.
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Land Office Fees Going Up March 26 (correction)CORRECTION: Land Office Fees Going Up March 26 or thereafter
Started by george, 2010-02-24 18:13
#27
Member Posted 2010-02-24 20:57:58
try buying in spain. 10/11% on purchase plus up to 40% on profits when you sell up? looks like a good deal at the moment. thailand should do a little research and they could make a pretty packet!
#28
Senior Member Posted 2010-02-24 21:12:51
A simple way to avoid this increase is don't buy a property in Thailand which is heavily loaded against foreign ownership. Hold on, please. My property (condo) is in my personal name, no Company is involved. It is duly willed to my g/f. If the property is valued upon my death at, say, 10M, does this mean she will have to fork out 3% (300,000bt) for the name transfer?  This is her 3 x yearly salary! Besides, this will create a strong tendency for Land Office to overvalue properties on paper, compared to realistic market price. This smells of artificial inflationary process at the end. Poor girls... Their own govt forces them to work strictly for cash... //vulgarity deleted// The western optimists could placate them by saying that in their country tax rates are closer to 4\10  And older ones can't have even this, if there are no takers? 
#29
Senior Member Posted 2010-02-24 21:24:27
Screw the Farang year.  tariffs are the same for everybody.. Besides there is only so much time to make a politician's investment back and the army need new bomb scanners (and a new general). #30
Senior Member Posted 2010-02-24 21:24:59
Stop whinging we're all lucky to be here. Surely you jest! That's right. Can't complain. Not allowed to... We're GUESTS here. poppycock #31
Platinum Member Posted 2010-02-24 21:53:46
Stop whinging we're all lucky to be here. Surely you jest! That's right. Can't complain. Not allowed to... We're GUESTS here. poppycock yes we are lucky be here. we come. we come buy we set up companys we employ a minum of 5 thai people. just to buy a house. then get taxed through the roof. this is polictal. Taksin paid off all of thailands debt hen he came into power. kept taxes low. no this govement wants to live by the book and live off money gernerated in the country. Basically yes. just like living back home. 1 problem the forangs go home who is going to pay the tax then for these thais who are now living a nice luxury life styles expensive things. Not to mention the toursime industry is going to be hit hard over the next few months with all this protests going on. If things go on and example the forangs did leave. then it would be like enngland the rich pay less tax and the poor get it hard. This prime minister as educated in England he know hw to look after the upper class #32
Senior Member Posted 2010-02-24 22:05:43
This does affect all buyers and sellers regardless of nationality, and the company ownership approach is so flawed on so many levels that this extra 'burden' really should not pose a problem. If anything, it will reduce the new supply of foreign buyers, naively setting up companies to 'sort of' circumvent the law.
As i have said before and will say again. But a freehold condo! #33
Platinum Member Posted 2010-02-24 22:18:19
This does affect all buyers and sellers regardless of nationality, and the company ownership approach is so flawed on so many levels that this extra 'burden' really should not pose a problem. If anything, it will reduce the new supply of foreign buyers, naively setting up companies to 'sort of' circumvent the law. As i have said before and will say again. But a freehold condo! thanks for that. i have a house i am trying to sell. i would be lucky if u get what i paid for it. it is hudge. Bascally anyone that owns a thai company in real eastate is forang. if they are thai they would buy in there on name. Anyay even a thai wouldn't buy a big house. who would he sell it on to when he wants to leave. unless the house prices hit even lower than rock bottom. Then all that hard work and money spent will be helping a thai live in luxury at my expense ! Thing is i cannot leave now cause my money is pardon the Pun Tied up here. i am stuck so if they want me to go home they can pay me! Edited by BigC, 2010-02-24 22:19:11. #34
Posted 2010-02-24 22:41:19
This has nothing to do with companies or foreigners, the vaguely written article refers to the end of the promotion on land transfer costs, specifically Transfer Fees reverting to 2% and Specific Business Tax reverting to 3.3% which takes place on March 28th.
#35
Senior Member Posted 2010-02-24 22:53:24
[b]I have my wife & 4 kids in the lovely land of not so many smiles  I think I'm gonna think about spending less of my hard earnt UK salary out there & get the family settled in the UK. Once foreigners cut back on holidays & spending, etc in Thailand & holiday elsewhere they might notice a difference. I used to love coming to Thailand  but now some changes are on the books.I really don't think this country worries about your meager amount of money, do you? And once you are back in England you won't have any money left to spend, that will make you feel less than happy with your life, and I'm sure wifey and the kids will hate that cold weather they have there, and the rest of the bad shit that people have to put up with every single day. Also, foreigners are not cutting back on coming here at all, in fact more will be coming as time goes by. Everywhere changes, just look at England to see how that place has changed, for the worst. #36
Senior Member Posted 2010-02-24 23:45:46
You guys can harp on. Do you know how much it costs when you buy/sell houses in the UK, and if it's your second property look-out You'll note that TV kept the Company ownership separate for ease of breaking it down to explain, it doesn't imply only falang prices are going up, although true this is generally the way falang buy property. It then goes on to say that individuals will see an increase as well, I recently sold a house that I'd owned for +2yrs and was charged all in about 2%, this is now going up to 3%, this transaction has nothing to do with falang. On the plus side (which you are either forgetting or have never purchased in Thailand b4), the land office only charges the tax once on the sale of property to the company, after that the property (ie company) can change hands as often as you like but the land office doesn't get a baht from the transaction, cos the method of transfer is done simply by transferring the company, (1hr in a lawyer's office) the land office doesn't play any part in the transaction. Stop whinging we're all lucky to be here. That is what I thought too, sell the company instead of the property. #37
Senior Member Posted 2010-02-25 00:22:09
Don't you just love these increases whenever farang are concerned? Not 10% or even a hefty 50% as might be expected, maybe? But 650%.....!!!!! (yes, yes, it's "because it was lowered 2 years ago") Exactly, deadbloke, not exactly a subtle increase, eh? We all got bent over and they didn't even kiss us first! All this after the tourism authority said they will start "appealing to the QUALITY and not QUANTITY of tourists." This will not work qualitatively OR quantitatively. Not smart. #38
Advanced Member Posted 2010-02-25 00:40:34
farangs go home , leave money, go home. oc
#39
Member Posted 2010-02-25 01:09:25
[b]I have my wife & 4 kids in the lovely land of not so many smiles I think I'm gonna think about spending less of my hard earnt UK salary out there & get the family settled in the UK. Once foreigners cut back on holidays & spending, etc in Thailand & holiday elsewhere they might notice a difference. I used to love coming to Thailand but now some changes are on the books.Byeeeeeeeeeeeeee ...  Your hard earned salary is going to go very much less far, back in the UK. Still, you have a choice, Use it wisely. Spend your hard earned UK salary as quick as you can because what are you going to do when the GBP is worth less than 40 baht. Whingeing POM go home and see what sort of a house you can buy in the UK for 2 or 3 million baht #40
Member Posted 2010-02-25 01:16:01
Stop whinging we're all lucky to be here. Surely you jest! That's right. Can't complain. Not allowed to... We're GUESTS here. poppycock yes we are lucky be here. we come. we come buy we set up companys we employ a minum of 5 thai people. just to buy a house. then get taxed through the roof. this is polictal. Taksin paid off all of thailands debt hen he came into power. kept taxes low. no this govement wants to live by the book and live off money gernerated in the country. Basically yes. just like living back home. 1 problem the forangs go home who is going to pay the tax then for these thais who are now living a nice luxury life styles expensive things. Not to mention the toursime industry is going to be hit hard over the next few months with all this protests going on. If things go on and example the forangs did leave. then it would be like enngland the rich pay less tax and the poor get it hard. This prime minister as educated in England he know hw to look after the upper class The rich actually pay some tax. If you would stop pulling your pud and grew a brain you would know that the poor in Thailand pay zero tax. Zombie!!!! #41
Senior Member Posted 2010-02-25 01:23:44
yes everyone that does this type of buying and owning will have to pay the real rate EVERYONE not just falang Thais do not need to form a thai company to buy land , as they can own land, we cannot, the tax increase is on thai companies buying land, farangs, so not everyone. #42
Senior Member Posted 2010-02-25 01:26:19
Property transfered between individuals will be charged three percent fees if owned for more than two years by the current owner. If owned less than two years the fee is higher, between five and six and a half percent.
So farang companies are charged double the fees that individuals(thais) are charged, sounds like a baht bus pricing system. #43
Senior Member Posted 2010-02-25 01:53:14
I have my wife & 4 kids in the lovely land of not so many smiles I think I'm gonna think about spending less of my hard earnt UK salary out there & get the family settled in the UK. Once foreigners cut back on holidays & spending, etc in Thailand & holiday elsewhere they might notice a difference. I used to love coming to Thailand but now some changes are on the books.don't bring the family back here. everyone is trying to leave, I'm on my way next week, there's no work here!! #44
Super Member Posted 2010-02-25 03:52:52
Don't you just love these increases whenever farang are concerned? Not 10% or even a hefty 50% as might be expected, maybe? But 650%.....!!!!! (yes, yes, it's "because it was lowered 2 years ago") Exactly, deadbloke, not exactly a subtle increase, eh? We all got bent over and they didn't even kiss us first! All this after the tourism authority said they will start "appealing to the QUALITY and not QUANTITY of tourists." This will not work qualitatively OR quantitatively. Not smart. "Honey, should we go to Thailand for our holiday?" "No f'in way. Have you seen the land transfer taxes there?" #45
Senior Member Posted 2010-02-25 03:57:32
Screw the Farang year. Aaah, the Thaivisa knee-jerk paranoia. It's the new 'First' on discussion board threads. I think you'll find this affects literally millions more Thais than it does farangs. Screw the Thais year Ha, that will teach them.Um, Thais can buy land in their own name. Foreigners have to go through a company. Consider yourself proven wrong. #46
Member Posted 2010-02-25 05:44:12
Is this the official fee increase or the T money to get things moving as well?
#47
Super Member Posted 2010-02-25 05:50:41
Screw the Farang year. Aaah, the Thaivisa knee-jerk paranoia. It's the new 'First' on discussion board threads. I think you'll find this affects literally millions more Thais than it does farangs. Screw the Thais year Ha, that will teach them.Um, Thais can buy land in their own name. Foreigners have to go through a company. Consider yourself proven wrong. Foreigners don't HAVE to buy land. (subject to minor exceptions) foreigners involved in buying land actually pay less than their thai corporate partners as they can only own a minority of the company - so it affects thai individual shareholders more. If however you are referring to companies where the thai shareholders are merely nominees are you genuinely suggesting anyone should sympathise with foreigners having to pay more fees in their illegal operations? Edited by thaiwanderer, 2010-02-25 05:58:59. #48
Platinum Member Posted 2010-02-25 06:26:32
Foreigners don't HAVE to buy land. (subject to minor exceptions) foreigners involved in buying land actually pay less than their thai corporate partners as they can only own a minority of the company - so it affects thai individual shareholders more. If however you are referring to companies where the thai shareholders are merely nominees are you genuinely suggesting anyone should sympathise with foreigners having to pay more fees in their illegal operations? Can you give some examples as to where this is not the case. #49
Member Posted 2010-02-25 06:39:57
Is simple, they don't want us in their county, so they are pushing everything up in fees to drive us away. ATM fees, Land fees, next it'll be 200% on beer and hotel rooms. Just wait, the women will be charging us a added tax when we take them away for the evening.  This isn't going to bother me as we already own our home. Don't drink, don't use hotel rooms or pay a woman to spend the night with me. #50
Advanced Member Posted 2010-02-25 07:07:37
farangs go home No, and I am going to bring as many more as I can. We will OWN you. 
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