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Legal Update

Thai Property Transfer Fees Back to Normal

3 March 2010
Mayer Brown JSM Legal Update

Purchasers and developers have until 26 March 2010 to take advantage of the property transfer rebates introduced by the Thai government in 2008.

To revive demand in the real estate market, the Thai government implemented a property transfer incentives policy in 2008. Under the policy, purchasers and developers enjoy rebates on registration fees and specific business tax. The incentives were valid for one year (, but were extended for another year (

Despite the clamour of interested parties to obtain a second extension, the Thai government has announced that the incentives will end on 28 March 2010, and the original rates will again apply. Interested parties, including commercial banks, are urged to register the transfer and/or mortgage of their immovable properties by Friday, 26 March 2010 to take advantage of the reduced rates.

The reduced rates, and the original rates which will be applicable from 29 March 2010 onwards, are as follows:

Incentive Reduced Rate Original Rate
1. Specific business tax for the sale of all immovable properties for commercial purposes 0.1% of either the actual or government appraisal price (the Base Price), whichever is higher, or 0.11% of the Base Price inclusive of local tax 3% of the Base Price or 3.3% of the Base Price inclusive of local tax
2. Registration fees for the transfer of certain immovable properties, e.g. land under allocation, buildings, buildings with land 0.01% of the government appraisal price 2% of the government appraisal price
3. Registration fees for the mortgage of certain immovable properties excluding office buildings 0.01% of the government appraisal price 1% of the government appraisal price

For inquiries related to this Client Alert, please contact:

Araya Akomsoonthorn ( )

Sirirat Kongkiattiwong ( )

Learn more about our Bangkok office, Real Estate and Tax practices.

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