A tax-minimising strategy, alleged by Chuvit Kamolvisit to involve Srettha Thavisin, the former President of Sansiri, a development firm listed on the SET, appears to be a common practice amongst landlords seeking to reduce tax liabilities on land sales.
Property DNA’s Managing Director, Surachet Kongcheep, observed that it is typical for landowners to aim to lessen tax payments attached to land transactions. ” If two or more individuals collectively own a piece of land, the Department of Lands will consider them as a group. When the group sells the land, they must pay tax at a progressive rate. But the progressive rate will not be collected if the land has a single owner,” he explained.
Typically, tax law stipulates payment of specific business tax and property transfer tax by both single…
