[Compass Real Estate Platform] Foreigners can rent out their Thai property legally. You might be able to open a rental income account with some banks. Rental income is taxed at various rates ranging from 0% to 37%. (property-related expenses can be used as a tax credit; in the case of a detached house, up to 30 percent of rental income can be used as a tax credit). Only rental properties are subject to property taxes, which are charged at a set rate of 12.5 percent of annual rent and are due annually.
The corporate income tax and capital gains tax rates are both 20% if you buy property in the name of a firm. Although there is no estate tax nor donation tax, property acquired through inheritance or donation is subject to capital gains tax.
Author ៖ Samnang, Editor-in-Chief ៖ Sunnie, Editor-in-Chief / Producer ៖ Nicole
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