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Stamp Duty
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Sriwilai Accounting - Stamp Duty Experts in Thailand
In Thailand, stamp duty is a government-imposed tax on certain legal documents and transactions. It typically applies to agreements, contracts, deeds, and similar formal papers. Depending on the type of document, the duty is calculated either at a flat rate or as a percentage of the transaction’s value. As a vital component of the Thai tax framework, stamp duty contributes significantly to public revenue. To avoid legal issues or fines, it’s crucial for individuals and businesses to understand how stamp duty works and ensure full compliance when executing formal agreements.
Types of Stamp Duty
In Thailand, there are different types of stamp duty, including ad valorem stamp duty and specific stamp duty. Ad valorem stamp duty is a tax based on a percentage of the transaction value, while specific stamp duty is a fixed tax rate for certain documents. For example, ad valorem stamp duty is 0.1% of the loan agreement value or 1% of the mortgage agreement value. A specific stamp duty example is THB 20 for a power of attorney.
Stamp Duty Exemptions
In Thailand, stamp duty exemptions are available for specific documents, like those executed by government entities. Additionally, certain transactions, including property transfers to immediate family members, are often exempt.
Stamp Duty Registration
In Thailand, all legal documents that require stamp duty must be affixed with a revenue stamp, which confirms the tax has been paid. Revenue stamps can be purchased from any Area Revenue Branch Office or authorized vendors. It is important for both businesses and individuals to retain records of these documents and the stamps to remain compliant with the law.
How Sriwilai Accounting Can Help
Managing stamp duty in Thailand can be a detailed and time-intensive task. Working with an experienced professional is key to ensuring timely payments and full compliance, helping you avoid unnecessary fines. At Sriwilai Accounting & Tax Solutions, we provide end-to-end support for all your stamp duty needs—making sure your legal documents are accurately processed and properly stamped under Thai law.
Our expert team assists with everything from calculating the correct duty, acquiring the required revenue stamps, to submitting official documents. We also advise on potential exemptions and help you stay up to date with the latest regulatory requirements to ensure continuous compliance.
