ภาษีสำหรับคอนโดให้เช่าในไทย: เจ้าของต้องจ่ายอะไรบ้าง

You just signed a tenant for your one-bedroom condo near BTS Thong Lo at 25,000 THB per month. The rental income feels great, until you realize you have no idea how much of it the Thai government expects back. You are not alone. Most condo owners in Bangkok, both Thai nationals and foreigners, are caught off guard by the layers of tax that come with rental income. Some ignore it entirely and hope for the best. Others overpay because they never learned what deductions are available. This guide breaks down every tax a Bangkok condo landlord needs to know about, with real numbers, real scenarios, and zero sugar-coating.

Personal Income Tax on Rental Income

Rental income in Thailand is classified as assessable income under Section 40(5) of the Revenue Code. That means every single baht you collect in rent must be declared in your annual tax return. The Thai Revenue Department does not care if you own one unit or ten. If you earn rent, you owe tax on it.

Thailand uses a progressive tax rate system. The first 150,000 THB of net income is exempt. After that, rates climb from 5% all the way up to 35% for income above 5 million THB. Most individual landlords with one or two condos fall somewhere in the 5% to 20% bracket, depending on their total income from all sources.

Here is where it gets interesting. You have two choices for deductions. You can deduct actual expenses, which means keeping receipts for maintenance, common area fees, repairs, insurance, and depreciation. Or you can take the flat 30% deduction, which requires zero paperwork. For a condo in a building like The Lumpini 24 near BTS Phrom Phong renting at 35,000 THB per month, that flat deduction gives you 126,000 THB off your 420,000 THB annual rental income. No receipts needed.

Most small landlords choose the 30% flat rate because it is simpler and often more generous than their actual expenses. But if you spent heavily on renovation, like a 200,000 THB kitchen remodel, actual deductions could save you more. Run the numbers both ways before you file.

Withholding Tax That Tenants Must Deduct

This one surprises a lot of first-time landlords. When your tenant is a company or a juristic person, they are legally required to withhold 5% of the rent and remit it to the Revenue Department on your behalf. So if a Japanese expat working for a company in Silom rents your condo at Ashton Asoke for 40,000 THB per month, and the company pays the rent directly, you only receive 38,000 THB. The other 2,000 THB goes straight to the tax office.

You get a withholding tax certificate (the form is called PND 53) from the corporate tenant. This amount is not lost money. It is a tax credit you apply against your personal income tax liability when you file your annual return. If the withholding exceeds your actual tax, you can claim a refund.

If your tenant is an individual paying out of their own pocket, there is no withholding obligation. You receive the full amount and handle the tax yourself. This is the more common scenario for condos in areas popular with independent expats, like the Ekkamai and On Nut neighborhoods where one-bedroom units rent for 12,000 to 22,000 THB per month.

House and Land Tax (the Big One Since 2020)

The Land and Building Tax Act took effect in 2020, replacing the old house and building tax. It changed the game for condo landlords across Bangkok. Under this law, if your condo is used for rental purposes, it is classified as "commercial use" and taxed based on its appraised value, not its rental income.

The rates are structured as follows. For property appraised up to 50 million THB, the rate is 0.3% of the appraised value. Most Bangkok condos fall well within this bracket. According to data from Knight Frank Thailand, the average appraised value of a one-bedroom condo in central Bangkok ranges from 3 to 7 million THB. So you are looking at an annual land and building tax of roughly 9,000 to 21,000 THB for a typical rental unit.

Here is a concrete example. Say you own a 45 square meter condo at Life Asoke Hype near MRT Phetchaburi. The government appraisal comes in at 4.5 million THB. Your annual house and land tax would be 13,500 THB. That is about one month of common area fees for many buildings. Not devastating, but not nothing either.

Important note: the government has offered temporary reductions in some years, cutting the rate by up to 90% during COVID relief periods. Always check the latest announcements from the Land Department or your local district office before paying.

Specific Business Tax and Stamp Duty

These two taxes apply when you sell a condo, not when you rent it out. But they matter to landlords because many people buy condos as investment properties with a future sale in mind. Understanding these costs upfront helps you calculate your true return on investment.

If you sell a condo within five years of purchasing it (based on the ownership period recorded on the title deed), you must pay Specific Business Tax (SBT) at 3.3% of the sale price or the government appraised value, whichever is higher. If you hold the property for more than five years, you skip SBT and instead pay stamp duty at 0.5% of the sale price or appraised value.

Consider this scenario. You bought a studio at Ideo Mobi Sukhumvit in 2022 for 3.8 million THB. You have been renting it out at 15,000 THB per month. In 2025, you decide to sell for 4.2 million THB. Since you have held it for only three years, you owe SBT of 138,600 THB (3.3% of 4.2 million). That is a significant chunk that eats into your capital gain. Had you waited until 2028, you would pay only 21,000 THB in stamp duty instead.

Comparison of Key Taxes for Bangkok Condo Landlords

Here is a quick reference table to help you keep all these taxes straight. The figures use a typical one-bedroom condo in central Bangkok as the baseline.

Tax Type	When It Applies	Rate	Example Amount (4.5M THB Condo, 25,000 THB/month rent)	Payable To
Personal Income Tax	Annual filing on rental income	5% to 35% (progressive, after deductions)	Approx. 10,500 to 21,000 THB/year	Revenue Department
Withholding Tax	Monthly, if tenant is a company	5% of rent	1,250 THB/month (credited against income tax)	Revenue Department (via tenant)
House and Land Tax	Annual, based on appraised value	0.3% for properties up to 50M THB	13,500 THB/year	Local District Office
Specific Business Tax	On sale, if held under 5 years	3.3% of sale price or appraised value	138,600 THB (on 4.2M sale)	Land Department at transfer
Stamp Duty	On sale, if held over 5 years	0.5% of sale price or appraised value	21,000 THB (on 4.2M sale)	Land Department at transfer

Common Mistakes Bangkok Landlords Make With Taxes

The biggest mistake is simply not filing. Some owners assume that because no one has come knocking, they are in the clear. The Revenue Department has been increasing its data matching capabilities, cross-referencing rental listings online with tax records. If your condo appears on a listing platform at 30,000 THB per month but you report zero rental income, that discrepancy can trigger an audit.

Another common error is double-counting the withholding tax. Some landlords forget to claim the withholding tax credit on their annual return, effectively paying tax twice on the same income. Always keep your PND 53 certificates organized and hand them to your accountant.

A third pitfall involves foreign landlords who assume their home country tax treaty eliminates Thai tax obligations. Thailand has double taxation agreements with many countries, but these treaties typically give Thailand the primary right to tax rental income earned from property located here. A British expat renting out a condo at Supalai Elite Surawong near BTS Sala Daeng still owes Thai income tax on that rent. The treaty just prevents the same income from being taxed again in the UK.

Finally, some landlords ignore the house and land tax bill because it arrives at their registered address, which might be different from where they actually live. Unpaid bills accumulate penalties of 1% per month. Set a calendar reminder for March and April each year, when these bills typically come due.

How to Stay Compliant Without Losing Sleep

Hire a local accountant. Seriously. A basic annual filing for an individual landlord with one or two rental condos typically costs 3,000 to 8,000 THB. That is a fraction of the penalties and surcharges you would face from a missed filing. Ask your juristic office or building management for recommendations. Many accountants near Siam, Asoke, and Sathorn specialize in expat and landlord tax returns.

Keep a simple spreadsheet tracking monthly rent received, any withholding certificates, common area fee payments, repair costs, and insurance premiums. Even if you plan to take the 30% flat deduction, having actual expense records gives you options. And if the Revenue Department ever asks questions, you have answers ready.

One more practical tip: open a dedicated bank account for your rental income. Mixing rental income with your salary and personal spending makes it much harder to track what you earned and what you spent on the property. A separate account creates a clean audit trail.

Owning a rental condo in Bangkok is still one of the best investment plays in Southeast Asia. Average yields of 4% to 6% in prime areas along the Sukhumvit corridor remain attractive compared to many regional markets. But those returns only look good on paper if you have accounted for your tax obligations. Know what you owe, file on time, and keep your records tidy. That way, rental income stays what it should be: a reliable, stress-free addition to your financial life. If you are looking for tenants or want to list your Bangkok condo with zero hassle, check out superagent.co to get matched with quality renters through an AI-powered platform built specifically for the Bangkok market.