Revealing the trick! Legal land sales tax planning

Selling land is a great opportunity to earn a large sum of money. But did you know that there is also a tax burden that must be paid? Many people may look for loopholes to avoid taxes. But illegal tax evasion is very risky.

This article will reveal the trick. Legal land sales tax planning To help you save taxes correctly and safe

1. Understand the rules for paying taxes : First of all, you need to understand the rules for paying land sales tax in Thailand. As follows

• Special business tax : 3.3% of the selling price
• Personal income tax : In the case of land held for no more than 5 years, tax is paid at a progressive rate.
• Stamp duty : 0.5% of the selling price

2. Find ways to reduce taxes : The tax law provides many ways to reduce taxes. As follows

• In the case of owning land for 5 years: exempt from specific business taxes
• In the case of selling land for residence: Personal income tax exemption for the first land. Value not exceeding 50 million baht
• In the case of selling agricultural land: Exemption from personal income tax for land owned by a natural person. Value not exceeding 50 million baht
• Deduct expenses related to sales : such as broker fees. Ownership transfer fee etc.

3. Advance tax planning : Advance tax planning will help you save taxes efficiently.

< li>Consult a tax expert : An expert will help analyze the situation and recommend a tax planning method that is appropriate for you.
• Asset Management : May consider transferring land ownership to other persons. or establish a legal entity to own land.

4. Illegal tax evasion : Illegal tax evasion is high risk. There are both civil and criminal penalties.

• Civil penalty : Pay additional taxes, fines, and various fees.
• Criminal punishment: Imprisonment, a fine, or both.

5. Tax information sources

• Revenue Department : https ://www.rd.go.th/
• Office of the Securities and Exchange Commission (SEC. T.) : http://www.sec .or.th/TH/Pages/Home.aspx
• Association of Certified Public Accountants : http://thaicpa.org/

Selling land legally and planning taxes efficiently It will help you save on taxes. and received money from the sale of land in full.