In search of the law firm in Thailand that will help you through the Inheritance Tax process? No need to look further, Sunbelt Asia Legal Advisors is the best choice. Inheritance Tax was introduced in Thailand in August 2015. The inheritance tax has come into effect from 1st February 2016.
The inheritance tax will be applicable on the following;
Moreover, the Inheritance Act is also levied on the person that has a foreign nationality. Yet they are living in Thailand as per the Immigration law of Thailand. The above-mentioned persons will be liable to pay the inheritance tax irrespective of the location of the property. In the same way, the foreigners that are not living in Thailand but will be inheriting property in located in Thailand. They are prone to pay the inheritance tax.
Possessions that are Subject to Tax
Wondering what assets will be subject to tax? Here is a list of the assets:
The normal rate of the inheritance tax is 10% of the value of the inherited asset. In case the receiver is an old relative or descendant of the owner, the rate is 5%. Furthermore, under the circumstance of inheritance exceeding the amount of 100M THB. The exceeding amount of the inheritance will be taxed only.
Below are some of the cases that are not liable to pay inheritance tax:
We have been working in the legal industry for 15 years. Our experts are experienced and skilled that assist you through the whole process. The process of inheritance tax planning can be daunting and time-consuming. So, our professionals try to make the process simple and convenient for you. As it is a new law, you might have difficulty knowing when is inheritance tax applicable. For this you require the help of a professional firm, We at Sunbelt Asia Legal Advisor have complete knowledge regarding the laws and practices.
If you contact us now we will offer you first free consultation. For further information related to inheritance tax, call us at 02-642- 0214.
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