Thailand: Inheritance
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Inheritance tax and law
INHERITANCE TAX
There are no inheritance or gift taxes levied in Thailand.
But properties which are acquired as a gift or inheritance, are subject to capital gains tax and are assessed separately. Capital gains tax is imposed at the standard income tax rates. If the property was acquired as a gift or by inheritance, 50% of the proceeds (selling price or market value) are deductible as expenses. The balance or 50% of the proceeds will be divided by the number of years the property was held, whereby the outcome is taxed at the appropriate tax rate. The resulting average tax liability will then be multiplied by the number of years the property was held to arrive at the final tax liability.
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