Purchasers and developers have until 26 March 2010 to take advantage of the property transfer rebates introduced by the Thai government in 2008.
To revive demand in the real estate market, the Thai government implemented a property transfer incentives policy in 2008. Under the policy, purchasers and developers enjoy rebates on registration fees and specific business tax. The incentives were valid for one year (http://www.mayerbrown.com/publications/article.asp?id=4749&nid=10353), but were extended for another year (http://www.mayerbrown.com/publications/article.asp?id=5978&nid=6).
Despite the clamour of interested parties to obtain a second extension, the Thai government has announced that the incentives will end on 28 March 2010, and the original rates will again apply. Interested parties, including commercial banks, are urged to register the transfer and/or mortgage of their immovable properties by Friday, 26 March 2010 to take advantage of the reduced rates.
The reduced rates, and the original rates which will be applicable from 29 March 2010 onwards, are shown here.