• 
• 

This measure represents an opportunity to save costs on specific real-estate transactions.

Currently, the SBT rate is 3.3 per cent of the sale price or the government-appraised price (whichever is higher), inclusive of local taxes. However, under the Royal Decree published on March 28, the SBT rate has been reduced to 0.11 per cent (inclusive of local taxes).

The government fee for the transfer or mortgage registration will be reduced from 2 per cent (in the case of transfers) and 1 per cent (in the case of mortgages) to 0.01 per cent of the government-appraised price of such property, for the following real estate transactions. In case of item 3 (office buildings with or without land), only the transfer fee is reduced:

n Land, buildings, or buildings with land, in a development established under the law on land allocation. This will apply to single houses, twin houses, row houses and commercial row houses.

n Multiple or single sales of condominium units in condominiums registered under the Condominium Act.

n Office buildings with or without land, which have been constructed in full compliance with development laws.

n Residential single houses, twin houses, row houses and commercial row houses, or the above buildings with land not exceeding 1 rai originally constructed individually rather than as a part of a development.

However, these special reductions will only be effective for one year from the publication in the Royal Gazette and will therefore end on March 28 next year.

If you wish to enquire further or if you are entitled to receive these reductions, please feel free to contact chartrapee.kanthasorn@mayerbrowjsm.com or visit our website, www.mayerbrownjsm.com.