Key takeaways
The transfer tax checklist per unit brings taxes, fees, cash and accounting entries together in one document. Prepare it 2-3 weeks before the transfer appointment so that the cash is ready and the entries can be booked immediately. A corporate seller must factor in 1% WHT, which is a tax credit but is cash that leaves on transfer day.
What this checklist is
On ownership transfer day, cash flows in and out at the same time in the largest amounts of the whole project cycle. Without preparation, the consequences go beyond delay: tax may be miscalculated, funds may fall short on the day of the appointment, or the accounting entries may be wrong. The per-unit checklist therefore controls four areas:
- Finance: know the cash amount to prepare in advance
- Tax: check the base, the rate and the amounts already paid
- Accounting: be ready to recognise revenue and release WIP to COGS
- Audit: have evidence ready to show the Revenue Department and the auditor
When SBT is paid: in ruling Kor Khor 0706/10580, the Revenue Department stated that a seller of real estate as a trade or for profit files the return and pays SBT at the time of registering the rights and juristic acts, and does not need to file monthly PT 40 returns for this business. Booking deposits or down payments that form part of the price must be included in receipts on the registration date. If the project has previously paid SBT, consult the local revenue office about offsetting or claiming a refund, and prepare the evidence before the appointment date.
A simple example checklist
Part 1: Unit information
| Unit | A-205 |
| Buyer | Mr A |
| Selling price per contract | 8,500,000 |
| Appraised value | 6,200,000 |
| SBT base (the higher amount) | 8,500,000 |
| Booking deposit and down payments received | 2,600,000 |
Part 2: SBT
| Item | Base | THB |
|---|---|---|
| SBT including 3.3% local tax | 8,500,000 | 280,500 |
| Paid on transfer day if no SBT has been prepaid | 280,500 |
Part 3: Transfer fee
| Item | Base | THB |
|---|---|---|
| Standard 2% fee | 6,200,000 | 124,000 |
| Seller's share of 50% under the sample contract | 62,000 | |
| Buyer's share of 50% under the sample contract | 62,000 |
Part 4: Withholding tax (WHT)
| Case | Rate | Notes |
|---|---|---|
| The seller is a juristic person | 1% | Withheld on the registration date and used as a CIT credit |
| The seller is an individual | Under the special calculation method | Collected by the competent official at the land office |
| Commission paid domestically | Generally 3% | The payer withholds and remits using the prescribed form |
Part 5: Transfer day cash
| Item | THB |
|---|---|
| Received from the buyer or bank (8,500,000 − 2,600,000) | 5,900,000 |
| SBT | (280,500) |
| Seller's share of the fee | (62,000) |
| WHT at 1% of the selling price | (85,000) |
| Net cash on transfer day | 5,472,500 |
WHT on commission is not an extra amount on top of the commission; it is the portion remitted to the Revenue Department on the recipient's behalf, so it is not shown in this table. If the appraised value is higher than the selling price, check the WHT base with the land office.
Part 6: Post-transfer accounting entries
| Item | Dr. | Cr. |
|---|---|---|
| Recognise revenue | Contract liability 2,600,000 and cash 5,900,000 | Revenue 8,500,000 |
| Release WIP | COGS (unit cost) | WIP |
| SBT | SBT Expense 280,500 | Cash 280,500 |
| Fee | Selling Expense 62,000 | Cash 62,000 |
| WHT | Tax Credit Receivable 85,000 | Cash 85,000 |
| Estimated CIT | Income Tax Expense | Current Tax Payable |
Part 7: Confirmations before transfer day
- Confirm the current-year appraised value
- Check whether the unit qualifies for the fee reduction measures
- Confirm the SBT amount and the evidence, if SBT was previously prepaid
- Prepare cash for SBT, WHT and fees
- Confirm the tax reserve account is sufficient
- Confirm the COGS per unit from the WIP system
- Confirm the appointment date with the legal team and the land office
- Notify the accounting team to prepare the journal entry
- Update the CIT projection and the WHT register after transfer
Fee reduction measures
A Ministry of Interior announcement published in the Government Gazette on 1 Jul 2026 reduces the transfer fee from 2% and the mortgage registration fee from 1% to 0.01% each, from the date of the announcement until 30 Jun 2027. It applies to buyers who are individuals of Thai nationality purchasing residential property whose selling price and appraised value do not exceed THB 7 million per contract, with a mortgage amount not exceeding THB 7 million. Unit A-205, priced at THB 8.5 million, therefore does not qualify. Check the full announcement before applying it to each unit.
Conclusion
The transfer tax checklist is a pre-transfer preparation sheet that brings tax, cash and accounting together in one document. It is a simple tool that helps prevent errors that are hard to correct once registration is complete.