Beating inheritance tax in Thailand

THE INHERITANCE tax law will take effect on February 1 but wealthy families can keep taxmen away from their fortunes by setting up holding companies, a prominent lawyer said.

Under the law, the extra incremental of an inheritance worth over Bt100 million will be taxed at between 5-10 per cent.

The best way to keep taxmen away is to minimise the value of inheritance, said Chinapat Visuttipat, a partner of Siam City Law Offices, during a presentation to Kasikornbank clients last week.

“All the assets should be transferred to a holding company, chiefly land plots,” he said, adding that this should be done as soon as possible as the Treasury Department’s new appraisal value would be effective next year and that would automatically increase the transaction cost.

The holding company can then pay out dividends to all beneficiaries, he said, and despite the transfer the owners enjoy full control of the assets through the ownership of preferred shares.


The rich have always ways to avoid paying for the grass-roots!
Read more in The Nation

About Antoni Uni

I am born in Haarlem, the Netherlands, and went to Spain, l'Escala - Costabrava, in 1988. After 15 years I made a mistake and went travelling in S.E. Asia. and in 2005 I dropped down in Bangkok where I still live. Mijn website met foto's is:
This entry was posted in Thai general news and tagged , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s