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As the title of this video suggests, we are posing the question are there taxes associated with Thai Condo sales? And the answer to that question is Yes. It is one of those things where the only two givens in life, death and taxes, well yeah taxes are going to be part of property transfers especially here in Thailand and yes that will pertain to condos as well.

Generally speaking, the main tax you are going to be talking about when you are talking about a condo transfer is going to be the transfer tax. At the same time, depending on how long the owner has owned the condo at the time they sell it, you may also be dealing with what is called the Specific Business Tax, or the so called 'hot money' tax i.e. basically money comes into Thailand, goes into a condo unit for a certain period of time, relatively short period of time and then they try to flip that condo to make a profit, whatever and yes Specific Business Tax kicks in at a higher rate than may otherwise be the case if for example somebody has owned a condo for 10 years, they no longer wanted, they are looking to sell it, they sell it, yeah okay the standard transfer tax can apply but again if it has only been owned a short time you may end up with an inflated tax rate as a result of the Specific Business Tax.

All of this is going to be based, any analysis associated with the taxation associated with the sale or purchase of a condo for that matter is going to be fact dependent, it is going to be circumstantially dependent. I know I sound like a broken record with that but at the end of the day that is what it comes down to. So again, this is going to be something that if you hire an attorney, if you hire a law firm that assists with such matters, they are going to be able to advise you as to the tax rate you are going to be dealing with in the event that you are going to go ahead and sell off your condo and as a result, again all of this is kind of part of the diligence associated with condo sale and purchase, and again for those that find this a bit overwhelming, it may not be a terrible idea to contact a legal professional, gain some insight and guidance into how best to proceed.