Thailand’s land laws are undeniably restrictive to foreign ownership except for condominium properties. The Condominium Act of Thailand allows foreigners to purchase a condominium property within the prescribed limitations. But even as purchasing a condo is the easiest way for a foreigner to own a property in Thailand, if they are not careful, they might fall into traps which they failed to see as coming. more
The Thailand Revenue Code (Tax Law) spells out the terms of taxation imposed to businesses, individuals and properties in accordance with the provisions of Thailand Laws. Chapter 4 of said Revenue Code or Tax Law specifies the stipulations on Value Added Tax.
Value Added Tax or VAT is an assessment tax which applies to all wholesalers, manufacturers, producers, importers, retailers and other entities providing direct services unless exempted under the Revenue Code. All firms not covered by the Revenue Code exemption must register and adopt the VAT system. more