Transcript of the above video:

As the title of this video suggests, we are discussing property and taxes in Thailand. This is a really confusing one for many foreigners because quite honestly the property tax system here in Thailand is quite unlike anything that operates anywhere else in the world. Honestly it was brought in under a cloud so to speak. Nobody really wanted it. It was one thing pretty much the entire demographic of Thailand agreed on, from small landlords all the way up to the top, nobody really wanted this thing and it was kind of just brought in by the bureaucrats in my opinion, I mean that's my opinion. There was a small sliver of people that really wanted to get this done mostly because they wanted to use the money off of it for whatever plans they had so that's why they sort of did it.

Now if you are talking residential property and you have a single residential property here in Thailand, you are probably not going to have to worry about any kind of property tax because anything under 50 million in that value in Thailand, as a residential home is going to be pretty low, it is basically going to have no tax. You are not going to be looking at taxes on that. Now they are transfer taxes associated with transferring property in Thailand but there aren't any taxes ongoing.

Now multiple ownership of property and if the value of it goes over a certain amount and again this is all going to be circumstantially dependent, you have got to put all the analyses together based on the facts and the ownership in the given case, but long story short yeah as that kind of goes up notches, yeah you could end up with some tax liability on top of transfer taxes and as we discussed the thing called Specific Business Tax, which if you sell a property within a certain period of time after you bought it, too quick a period of time, so-called 'hot money' or flipping property, then you could end up with even more tax obligations. So again, it is going to be substantially circumstantially dependent. It's going to be driven by the facts; it is going to be driven by the history of the property etc. as to what kind of tax liability you are looking at here in the Kingdom of Thailand.