Phuket Property Taxes for Foreigners: The 2026 Tax Stack on a ฿15M Condo
TL;DR: Foreigners buying Phuket property pay three tax layers — ~1% transfer fees at the Land Office on a ฿15M condo, 0.02–0.10% annual Land & Building Tax, and progressive 5–35% rental-income PIT (effective ~4–5% net). The 0.01% transfer-fee discount through June 2026 is Thai-citizens only.
On a ฿15M Bang Tao freehold condo, the buyer's direct tax outlay at the Land Office is about ฿150,000 — roughly 1.0% of price. The total tax bill over a five-year hold and sale runs to ฿1.4M–฿1.5M, with the exit carrying most of the weight. Here is where every baht goes. For the ownership-structure background that shapes the tax stack, see how the freehold-vs-leasehold choice changes the tax stack. For the full buying process, the full foreign-buyer playbook covers due diligence and the Land Office procedure.
The four taxes paid at the Land Office (transfer day)
Four charges are collected or verified at the Land Office on transfer day. Two are structurally seller-side; the split on one is negotiable.
Transfer fee — 2% of registered appraised value. The Land Office assesses on its own appraised value, which in Phuket typically runs 20–40% below the market sale price. By convention the fee is split 50/50 between buyer and seller. The buyer's default exposure on a ฿15M unit with a ฿12M appraised value: ฿120,000 (1.0% of appraised value, 0.8% of price).
Specific Business Tax (SBT) — 3.3% of sale price, seller pays. SBT applies when the seller held the property for fewer than five years, per Section 91/2 of the Revenue Code. The 3.3% comprises 3% SBT plus 0.3% local government tax. On a ฿15M sale: ฿495,000 — a meaningful seller cost that feeds into price negotiation.
Stamp duty — 0.5%, seller pays (if held 5+ years). When the seller held for five years or more, SBT is replaced by stamp duty at 0.5% under the stamp duty schedule. On ฿15M: ฿75,000 — saving the seller ฿420,000. Sellers near the five-year mark routinely delay the transfer to trigger this switch.
Withholding tax — seller pays, progressive. For individual sellers the WHT is calculated on the Land Office appraised value, multiplied by a deduction factor tied to years held, then a simplified property-WHT schedule is applied to the annual figure and multiplied back by years held. The property-WHT schedule is 5% on the first ฿100K of annualized taxable, 10% on the next ฿400K, and 20% above ฿500K — NOT the standard 8-band PIT (0/5/10/15/20/25/30/35) used elsewhere on this page for rental income. The two schedules exist for different sections of the Revenue Code and most competing guides hand-wave the math entirely. At five years: deduction factor 0.35; ฿12M × 0.35 ÷ 5 = ฿840,000/year taxable; WHT ≈ ฿113,000/year × 5 = ~฿565,000. Cross-checked against Siam Legal's published worked example (฿12.5M, 5yr factor 0.35 = ~฿600K total). This is seller-side but affects price negotiation.
Buyer's direct Land Office outlay: typically ฿150,000–฿180,000 on ฿15M (transfer fee half + sinking fund ~฿36,000 + lawyer ฿30,000–฿60,000) — not the 5–8% figure most guides cite. The 5–8% headline includes all seller-side charges.
FET form. The foreign-currency wire must arrive in foreign currency and be converted in Thailand. The receiving Thai bank issues a Foreign Exchange Transaction (FET) form for transfers equivalent to USD 50,000 or more, per Bank of Thailand foreign exchange regulations. Without FET documentation, the Land Office cannot register foreign-quota freehold ownership.
The 0.01% stimulus: not for foreign buyers
A Royal Decree published on April 22, 2025 reduced the transfer fee from 2% to 0.01% on residential properties up to ฿7M. The stimulus runs through June 30, 2026.
Foreign buyers are not eligible. Per Tilleke & Gibbins' practitioner review of the Ministry of Interior notifications, the reduced rates apply only when "the buyer is an individual with Thai nationality." Foreign nationals and Thai-juristic-person buyers are excluded. Foreign buyers pay the standard 2% transfer fee regardless of purchase price.
This is the most commonly misreported fact in the Thailand property tax SERP. Half the guides that rank for this topic omit the stimulus or treat it as universal. It is not. Even for Thai nationals the stimulus covers only properties up to ฿7M — below the median 1-bedroom condo price in Bang Tao or Kamala.
Annual Land & Building Tax: the trap for buyers who read old guides
Many guides written before 2020 state that Thailand has no annual property tax. That was accurate before January 1, 2020. It is six years out of date.
The Land & Building Tax Act B.E. 2562 came into full effect on January 1, 2020. Pandemic-era discounts — 90% reduction in 2020–2021, 15% in 2023 — have expired. As of the 2569 tax year, no Royal Decree grants an equivalent reduction for 2026. Tax year 2569 is a full-rate year.
Rates for foreign-owned residential property (non-primary residence band):
| Appraised value band | Rate |
|---|---|
| ฿0–฿50M | 0.02% |
| ฿50M–฿75M | 0.03% |
| ฿75M–฿100M | 0.05% |
| Above ฿100M | 0.10% |
On a condo appraised at ฿12M: ฿2,400/year. Assessment letters arrive in February; payment is due April 30.
The Tabien Baan exemption. Primary-residence owners whose names appear on the Tabien Baan (house registration book) as of January 1 can claim a larger exemption — the first ฿10M of building value is tax-free for condo owners registering as their primary residence. Most foreign condo owners in Phuket cannot claim this: the mechanism requires registration via yellow Tabien Baan (Tor Ror 13), which is achievable but uncommon for owners who are not long-term Phuket residents. Default assumption for foreign buyers: non-primary-residence rate at 0.02%.
The luxury tax over ฿10M: a myth with no primary source
Ask anyone quoting you a "luxury property tax of 2–5% on properties over ฿10M in Thailand" to produce the statute, the Royal Gazette entry, or the Revenue Code section. They cannot — because no such provision exists.
This claim has been verified against every relevant Thai primary source: rd.go.th, ratchakitcha.soc.go.th, the Office of the Council of State statute database (krisdika.go.th), and the published practitioner analyses of Tilleke & Gibbins, Nishimura & Asahi, Frank Legal & Tax, Lex Bangkok, and HLB Thailand. None confirm a separate luxury property tax bracket on Thai residential property as of May 2026.
What the ฿10M figure actually refers to: the Tabien Baan primary-residence exemption for condo building values — the first ฿10M is exempt from L&B Tax for qualifying primary-residence owners. The ฿10M is the exemption floor, not a surcharge threshold. The claim appears in marketing copy from several real estate sites; no regulatory source supports it.
Practical implication: do not budget for a luxury tax above ฿10M. The annual L&B Tax on a non-primary-residence condo worth ฿15M (appraised at ฿12M) is approximately ฿2,400 — not 2–5% of purchase price.
Rental income tax for foreign condo owners
Tax residents (180+ days/year in Thailand) file PND.94 by September 30 and PND.90 by March 31. Gross rental income qualifies for a 30% standard deduction — no documentation required — or actual documented expenses (CAM fees, management, insurance) if those exceed 30%. A ฿60,000 personal allowance applies after the deduction. The remainder is taxed at progressive PIT rates from the Thai Revenue Department: 0% on the first ฿150K, 5% on ฿150K–฿300K, 10% on ฿300K–฿500K, 15% on ฿500K–฿750K, rising to 35% above ฿5M.
On ฿80,000/month (฿960,000 gross/year): after 30% deduction (−฿288,000) and personal allowance (−฿60,000), taxable income is ฿612,000. PIT: ฿7,500 + ฿20,000 + ฿16,800 = ~฿44,300/year — effective rate of about 4.6% on gross. See current Rawai condo inventory to benchmark ฿80K/month against realistic rents in that market.
Non-residents (fewer than 180 days/year) face 15% withholding on gross rental income when the tenant is a Thai legal entity. On ฿960,000 gross: ฿144,000/year. Filing PND.90 recovers the excess over actual PIT liability — typically saving ~฿100,000/year at this income level. Filing is worthwhile.
Double taxation. Thailand has DTAs with Russia, the UK, Germany, France, and most EU member states. Thai-paid rental tax generally credits against home-country liability rather than stacking on top. The Bank of Thailand DTA list links to treaty texts; HLB Thailand publishes summaries for the most common investor nationalities.
Worked example: the full Phuket property tax stack on a ฿15M condo
One property, followed through from purchase to exit. Setup: foreign-quota freehold 1-bedroom condo in Bang Tao, ฿15M purchase price, Land Office appraised value ฿12M, long-term rental at ฿80,000/month, sold at ฿16.5M after five years. Individual seller throughout.
Year 0 — purchase (seller held 4 years, SBT applies)
| Line item | Rate | Amount | Who pays |
|---|---|---|---|
| Transfer fee | 2% × ฿12M appraised | ฿240,000 | 50/50 → buyer ฿120,000 |
| SBT | 3.3% × ฿15M sale | ฿495,000 | Seller |
| Withholding tax | Simplified WHT schedule, 4-yr factor 0.29 | ~฿476,000 est. | Seller |
| Sinking fund | ~฿600/sqm, 60 sqm | ~฿36,000 | Buyer |
| Buyer direct outlay | ~฿156,000 | Buyer |
If seller held 5+ years: SBT swaps to stamp duty at 0.5% = ฿75,000 (saves seller ฿420,000); buyer's side unchanged.
Year 1 — annual carry
| Line item | Amount/year |
|---|---|
| Land & Building Tax (0.02% on ฿12M appraised) | ฿2,400 |
| CAM (60 sqm × ฿60/sqm/mo) | ฿43,200 |
| Building insurance / juristic levies | ~฿4,000–฿8,000 |
| Annual recurring carry | ~฿49,600–฿53,600 |
CAM is not a tax — it is the juristic-person levy. It is deductible as an actual expense against rental PIT if you claim documented expenses instead of the 30% standard deduction.
Year 1 — rental income tax (tax-resident owner)
| Line item | Amount |
|---|---|
| Gross rent | ฿960,000 |
| Less 30% standard deduction | (฿288,000) |
| Less personal allowance | (฿60,000) |
| Taxable income | ฿612,000 |
| PIT (progressive) | ~฿44,300 |
| Effective rate on gross | ~4.6% |
Year 5 — exit (sell at ฿16.5M, individual seller, held exactly 5 years)
Deduction factor for 5+ years: 0.35, per the Siam Legal transfer tax guide. Exit appraised value assumed ฿13.2M.
| Line item | Amount | Who pays |
|---|---|---|
| Transfer fee (2% × ฿13.2M appraised) | ฿264,000 → seller half ฿132,000 | Seller ฿132,000 |
| Stamp duty (0.5% × ฿16.5M; SBT exempt at 5y) | ฿82,500 | Seller |
| WHT: ฿13.2M × 0.35 ÷ 5 = ฿924,000/yr taxable; WHT/yr ≈ ฿129,800 × 5 (simplified property WHT schedule) | ~฿649,000 | Seller |
| Net seller cash out at exit | ~฿863,500 | Seller (you) |
Five-year summary
| Item | Total |
|---|---|
| Transfer fee — buyer share at purchase | ฿120,000 |
| Annual L&B Tax (5 yrs) | ฿12,000 |
| Rental PIT (5 yrs × ~฿44,300) | ฿221,500 |
| Transfer fee — seller share at exit | ฿132,000 |
| Stamp duty at exit | ฿82,500 |
| WHT at exit | ~฿649,000 |
| Total tax footprint | ~฿1,217,000 |
As a share of the original ฿15M purchase price: approximately 8.1%, with ~53% of that concentrated in the exit-year WHT. The annual running tax burden (L&B Tax + rental PIT) is under 1.8% of purchase price per year.
Common mistakes: Phuket property taxes for foreigners
"No annual property tax in Thailand." False since January 1, 2020. The Land & Building Tax Act B.E. 2562 is in full enforcement for 2026. If your agent says otherwise, they are six years behind.
"The 0.01% stimulus applies to me." No — Thai nationals only, properties up to ฿7M, through June 30, 2026. Foreign buyers pay 2%.
"There's a luxury tax over ฿10M." There is not. No Thai law confirms this. The ฿10M is an exemption threshold, not a surcharge. Demand a statute citation from anyone quoting you a luxury rate.
"I'll skip filing because the 15% WHT was withheld." For tax residents, filing PND.90 typically recovers ฿80,000–฿100,000/year on ฿80K/month rental income. Filing takes a few hours; the savings are not marginal.
"CAM is a tax." It is not — it is the juristic-person levy for running common areas. It does not count against L&B Tax but is deductible against rental PIT as an actual expense.
Frequently Asked Questions
Do foreigners pay annual property tax in Thailand?
Yes. The Land & Building Tax Act B.E. 2562 applies to all owners — Thai and foreign — since January 1, 2020. Non-primary-residence condos pay 0.02–0.10% of appraised value: a ฿12M condo owes about ฿2,400/year. Pandemic-era discounts have expired and 2026 is a full-enforcement year.
Does the 0.01% transfer-fee reduction apply to foreign buyers?
No. The April 2025 Royal Decree cutting the transfer fee to 0.01% on residential up to ฿7M is restricted to Thai-national individual buyers. Foreign nationals and Thai-juristic-person buyers are excluded — they pay the standard 2%. The stimulus runs through June 30, 2026.
How is rental income from a Phuket condo taxed for a foreign owner?
Tax residents (180+ days/year) file PND.90 by March 31, declare gross rent minus a 30% deduction, and pay progressive PIT from 5%. On ฿80,000/month effective tax is ~4.6% of gross. Non-residents face 15% withholding at source; filing PND.90 recovers the excess and saves ~฿100,000/year.
Is there a luxury tax on condos over ฿10M in Thailand?
No. No separate luxury property tax exists in Thai law as of May 2026. The ฿10M figure refers to the Tabien Baan primary-residence exemption — a tax discount most foreign owners cannot claim. The "2–5% luxury tax" claim is real-estate marketing with no statutory basis.
How much tax do I pay when selling a Phuket condo as a foreigner?
On ฿15M → ฿16.5M held five years: seller pays stamp duty 0.5% (฿82,500), half the 2% transfer fee (฿132,000), and progressive withholding (~฿649,000 using the 0.35 five-year deduction factor on the property-WHT schedule). Total seller out ~฿863,000. Under five years, SBT 3.3% replaces stamp duty.
Do I pay tax in both Thailand and my home country on Thai rental income?
Likely partially, not doubly. Thailand has double tax agreements with Russia, the UK, Germany, France, and most EU states. Thai-source rental tax paid locally generally credits against home-country liability. See the Bank of Thailand DTA list and engage a DTA-familiar tax adviser.
Does Thailand have property tax?
Yes. Thailand's Land and Building Tax (LBT) Act B.E. 2562 took effect on January 1, 2020. For non-primary-residence residential property — the default category for most foreign condo buyers — the rate is 0.02% of the Land Office appraised value on the first ฿50M of appraised value. On a condo appraised at ฿12M that is ฿2,400 per year. Pandemic-era discounts have expired; 2026 is a full-enforcement year.
Do foreigners pay property tax in Thailand?
Yes, on exactly the same terms as Thai nationals. The Land and Building Tax Act B.E. 2562 contains no nationality exemption — the rate, assessment base, and payment deadline (April 30) are identical for foreign and Thai owners. A foreign-quota freehold condo appraised at ฿12M owes ฿2,400/year at the 0.02% non-primary-residence rate. The Tabien Baan primary-residence exemption that reduces the bill is harder to claim for foreigners, so most default to the full non-primary rate.
What are the annual property holding costs in Thailand?
Three recurring lines form the annual ownership stack for a foreign-owned Phuket condo. First, Land and Building Tax: 0.02% of appraised value on units below ฿50M appraised — roughly ฿2,400/year on a ฿12M appraised condo. Second, CAM (juristic-person common-area levy): typically ฿40–80/sqm/month depending on the project, so ฿28,800–57,600/year on a 60 sqm unit. Third, building insurance and juristic levies: ฿4,000–8,000/year for a standard condo. Total annual carry before rental income tax: roughly ฿35,000–68,000 on a mid-range unit. CAM is deductible against rental PIT when you claim actual documented expenses instead of the 30% standard deduction — see how LBT fits the net-yield stack for the investor calculation.
Sources and further reading
- Thai Revenue Department — Specific Business Tax, Section 91/2 (rd.go.th)
- Thai Revenue Department — Stamp Duty schedule (rd.go.th)
- Thai Revenue Department — Personal Income Tax rates (rd.go.th)
- Office of the Council of State — Land & Building Tax Act B.E. 2562 (krisdika.go.th)
- Bank of Thailand — FET regulations and DTA list (bot.or.th)
- Tilleke & Gibbins — Thailand reduces property sale fees (0.01% stimulus, foreigner exclusion confirmed)
- Lex Bangkok — Land and Building Tax Thailand 2026 full guide
- HLB Thailand — rental properties and Personal Income Tax
- Siam Legal — withholding tax deduction-factor table for property sales
- The full foreign-buyer playbook for Phuket
- How the freehold-vs-leasehold choice changes the tax stack
- Bang Tao district guide
- Rawai district — the entry-price reality for south Phuket buyers
- Phuket condos for sale — check current prices
Last updated: May 2026. This guide on Phuket property taxes for foreigners is produced by the AIProperty Phuket Editorial team — sourced from Thai government regulations, practitioner firm analysis, and our own catalog of 5,400+ active Phuket listings refreshed daily. Not tax advice. Tax positions depend on residency status, holding period, treaty interaction with your home country, and the Land Office appraised value for your unit — engage a Thai-licensed tax professional (HLB Thailand, Frank Legal & Tax, and Tilleke & Gibbins are practitioners cited in this guide). The 2025–2026 transfer-fee stimulus expires June 30, 2026; Land & Building Tax full enforcement applies for tax year 2569. We sell, we don't host — read our Editorial standards.