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ARTICLE · 29 MARCH 2010

Thai Property Transfer Incentives Live On

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To the relief of several interested parties, the Thai government's property transfer incentives scheme, set to end on 28 March 2010, has been extended. Purchasers now have until 31 May 2010 to take advantage of the reduced rates.

ThailandReal Estate and Construction
Araya Akomsoonthorn
Araya Akomsoonthorn
Patruetai Siriakraseth
Patruetai Siriakraseth
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Originally published 29 March 2010

Keywords: Thai Property, transfer incentives, extended, reduced rates,

Summary

To the relief of several interested parties, the Thai government's property transfer incentives scheme, set to end on 28 March 2010, has been extended. Purchasers now have until 31 May 2010 to take advantage of the reduced rates.

Full Update

The property transfer rebates, implemented in 2008, were due to end on 28 March 2010. However, on 23 March 2010 the Thai Cabinet announced a two-month extension of certain incentives in response to requests from purchasers.

The extension only applies to the reduced transfer fees and mortgage registration fees. This means that property purchasers and mortgagors will continue to enjoy the reduced rate of 0.01 percent for transfer and mortgage registration until 31 May 2010. Specific business tax, however, will revert to its original rate of 3 percent.

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