Muang Land Office on a particularly busy day! Don't worry. They are not usually this busy!
Looking to buy or sell properties in Chiang Mai? Here is the list of transfer fees payable:
1. Transfer fee
- 2% of the appraised value of the property. The appraised value is calculated by the land office.
2. Specific Business Tax
- 3.3% of the registered sale value that is reported to the land office or the appraised value, whichever is higher.
Specific Business Tax is exempted for various conditions. For example, if the seller has bought the property for more than 5 years or if the property is being used as the sellerâ€™s residence for more than 1 year.
3. Stamp Duty
- 0.5% of the registered value. Stamp Duty is exempt if the seller is subjected to the Specific Business Tax.
4. Withholding tax
- If the seller is a company, the withholding tax is calculated at 1% of the registered sale value that is reported to the land office or the appraised value, whichever is higher.
- If the seller is a private person, the withholding tax is calculated on a sliding scale based on the appraised value of the property.
At the time the buyer and seller negotiates the price of the property, Indigo will get an estimate of the fees and taxes payable at the relevant land office so both party knows how much transfer fees / taxes are payable at the time of property transfer.
If you have any questions regarding buying or selling property in Chiang Mai, please contact us.