ภาษีเงินได้จากการปล่อยเช่าคอนโด: คำนวณอย่างไรและยื่นแบบอย่างไร

You bought a condo near BTS Ari, found a nice tenant paying 18,000 THB a month, and now you are collecting passive income like a pro. Life is good. Then tax season rolls around, and suddenly you realize you have no idea how to report that rental income. Do you owe tax on the full amount? Can you deduct expenses? What form do you even file? If this sounds familiar, you are not alone. Thousands of condo owners across Bangkok collect rent every month without fully understanding their tax obligations. Let's fix that right now, step by step, so you never have to panic when March rolls around again.

Rental Income Is Taxable, No Exceptions

Let's start with the basics. If you earn rental income from a condo in Thailand, the Thai Revenue Department considers it assessable income under Section 40(5) of the Revenue Code. It does not matter whether you are Thai or a foreigner with a work permit. If the income originates in Thailand, it is subject to personal income tax.

Here is a concrete example. Say you own a one-bedroom unit at Life Ladprao near MRT Phahon Yothin. You rent it out for 15,000 THB per month. That means your gross annual rental income is 180,000 THB. This entire amount must be declared on your annual tax return, filed by the end of March the following year.

Some landlords assume that because no employer withholds tax, they can skip reporting. That is incorrect. The Revenue Department has been increasingly cross-referencing data from land offices and banks, so staying compliant is not optional anymore. It is essential.

How to Calculate Your Taxable Rental Income

Thailand gives you two methods to deduct expenses from your rental income before applying the tax rate. This is where things get interesting, because the method you choose can significantly affect how much tax you owe.

Method one is the flat rate deduction. For rental income under Section 40(5), you can deduct 30% of your gross rental income automatically, no receipts needed. So if your annual rental income is 240,000 THB from a condo at Ideo Mobi Sukhumvit near BTS On Nut, your taxable amount after the flat deduction would be 168,000 THB.

Method two is actual expenses. You keep records of every real cost, including common area fees, mortgage interest, repairs, insurance, and depreciation. If your actual expenses exceed 30% of gross income, this method saves you more money. But you need documentation for everything.

Most small-scale landlords in Bangkok choose the 30% flat rate because it is simpler. However, if you own a unit at a premium building like Magnolias Waterfront Residences at ICONSIAM and your common fees alone are 8,000 to 12,000 THB per month, actual expenses might be the smarter route.

Understanding Thailand's Progressive Tax Rates

Once you have calculated your net taxable rental income, you apply Thailand's progressive personal income tax rates. According to the Revenue Department's tax rate schedule, the brackets for 2024 assessment are as follows. The first 150,000 THB of net income is exempt. Income from 150,001 to 300,000 THB is taxed at 5%. The rates climb progressively, reaching 35% for net income exceeding 5,000,000 THB.

Here is an important data point that many landlords overlook. According to data from CBRE Thailand, the average rental yield for a one-bedroom condo in central Bangkok ranges from 4% to 6%, with typical rents between 15,000 and 35,000 THB per month depending on the location and building quality. That means most individual landlords with a single unit fall into the lower tax brackets, often paying 5% to 15% effective tax on their rental income after deductions and personal allowances.

Keep in mind that rental income is combined with all your other income sources. If you earn a salary of 50,000 THB per month and also collect 20,000 THB monthly in rent, your total assessable income pushes you into a higher bracket than either source alone.

Scenario	Monthly Rent	Annual Gross Income	After 30% Flat Deduction	Estimated Tax (Rental Income Only)
Studio at The Base Park West, BTS On Nut	10,000 THB	120,000 THB	84,000 THB	0 THB (below exemption)
1-Bed at Life Ladprao, MRT Phahon Yothin	15,000 THB	180,000 THB	126,000 THB	0 THB (below exemption)
1-Bed at Ideo Q Sukhumvit 36, BTS Thong Lo	25,000 THB	300,000 THB	210,000 THB	3,000 THB
2-Bed at Ashton Asoke, MRT Sukhumvit	45,000 THB	540,000 THB	378,000 THB	11,400 THB
2-Bed at Magnolias Ratchadamri, BTS Chit Lom	80,000 THB	960,000 THB	672,000 THB	47,400 THB

Note that these estimates assume rental income is the only source of income and the taxpayer claims only the standard personal allowance of 60,000 THB. Real-world numbers will vary based on your full income picture.

Filing Your Tax Return Step by Step

The form you need is called PND 90. This is the annual personal income tax return for individuals who earn income from multiple categories, including rental income. If your only income is from employment, you would use PND 91, but the moment you add rental income, you switch to PND 90.

You can file online through the Revenue Department's e-filing system at efiling.rd.go.th. The deadline is March 31 of the year following the tax year. So for income earned in 2024, you file by March 31, 2025. Filing online gives you an automatic extension to April 8 in most years.

Let's walk through a real scenario. You own a one-bedroom at Rhythm Sukhumvit 36-38 near BTS Thong Lo. Your tenant pays 22,000 THB per month. You also work full-time earning 60,000 THB per month. When you file PND 90, you report your salary income under Section 40(1) and your rental income under Section 40(5). You choose the 30% flat deduction for rental income. Your salary already has tax withheld by your employer, so you may owe a small additional amount or even receive a refund depending on your withholding situation.

Gather your lease agreement, bank transfer records, and any receipts for condo-related expenses before sitting down to file. Having everything organized makes the process take about 30 minutes online.

Common Mistakes Bangkok Landlords Make

The most frequent mistake is simply not filing at all. Many landlords, especially those renting out a single unit for 12,000 to 18,000 THB per month in areas like Bearing or Bang Na, assume the income is too small to matter. While the tax owed might indeed be zero after deductions and allowances, you still need to file. Failing to file can result in penalties and surcharges.

Another common error is mixing up Section 40(5) with Section 40(8). If you provide additional services like cleaning, furniture rental, or breakfast, similar to a serviced apartment operation, the Revenue Department may classify your income under Section 40(8) instead. This changes your deduction rate and reporting requirements. A landlord running a short-term rental through Airbnb out of a condo at Aspire Sukhumvit 48, for example, could fall into this gray area.

Forgetting about withholding tax is another trap. If your tenant is a company, they are legally required to withhold 5% of the rent and remit it to the Revenue Department on your behalf. You need a withholding tax certificate from them to claim credit when you file. Always ask your corporate tenant for this document every time they pay rent.

What About Foreign Landlords?

If you are a foreigner who owns a condo in Thailand and rents it out, the same tax rules apply. Rental income generated in Thailand is taxable in Thailand regardless of your nationality. You file PND 90 just like a Thai citizen.

However, there is a twist for foreigners who are not tax residents. If you stay in Thailand fewer than 180 days in a calendar year, you are considered a non-resident for tax purposes. Non-residents are taxed at a flat rate of 15% on rental income, with no progressive brackets and no personal allowances. For someone collecting 30,000 THB per month from a two-bedroom at The Lumpini 24 near BTS Phrom Phong, that means paying roughly 54,000 THB in annual tax rather than potentially much less under the progressive system.

If you hold a double taxation agreement between Thailand and your home country, you may be able to offset Thai taxes against your home country obligations. Consult a tax advisor who understands cross-border taxation, because getting this wrong can mean paying tax twice on the same income.

Staying on top of your rental income tax does not have to be stressful. The rules are straightforward once you understand them, and filing takes less time than your morning commute on the BTS. Keep your lease agreements organized, track your income monthly, choose the right deduction method, and file by March 31. If you are renting out your condo or looking for tenants in Bangkok, Superagent at superagent.co makes the process easier by connecting you with verified renters and handling the details that matter, so you can focus on being a smart landlord, not a stressed one.