Revenue Stamp
Revenue Stamp
Stamp duty is a “duty tax” collected from documents required by law under the Revenue Code Chapter 6 on Stamp Duty (Section 103-136). If the document is in the “Stamp Duty Rate Account”, the stamp duty must be correctly affixed. Otherwise, the document will be considered incomplete by law and may not be used as evidence in a court of law until the duty is paid retroactively with a penalty.
Example of 28 instruments/documents that are subject to stamp duty according to the Revenue Department’s
1. Land/Greenhouse/Building Lease Agreement
- The stamp duty rate is 1 THB/every 1,000 THB (or fraction of 1,000 THB) of the gross rent over the life of the contract.
- The duty of the stamp payer is the Lessor/Lessee.
- Note If the contract does not have a term, it is considered to be 3 years.
2. Transfer share certificates/loan certificates/debt certificates (stock instruments)
- The stamp duty rate is 1 THB/every 1,000 THB (or fraction of 1,000 THB).
- The duty of the stamp payer is the transferor/transferee.
- Note: Except for government bonds/shares issued by cooperatives/BAAC
3. Hire purchase agreement of the property
- The duty stamp rate is 1 THB/every 1,000 THB (or fraction of 1,000 THB) of the total price.
- The duty of the stamp payer is the lessor/lessee.
- Note: Except for the use in the field of land/plantation/rai
4. Contract for work
- The stamp duty rate is 1 THB/every 1,000 THB (or fraction of 1,000 THB) of the agreed wage.
- The duty of the stamp payer is the contractor.
- Note: If the wage is more than some criteria or the employer is a government agency, special conditions may apply.
5. Loan Agreement/Overdraft Agreement
- The stamp duty rate is 1 THB/every 2,000 THB (or fraction of 2,000 THB) of the loan balance/overdraft.
- The duty of the stamp payer is the lender/borrower.
- Note But if the calculation exceeds 10,000 baht, keep a maximum of 10,000 baht.
6. Insurance Policy (Non-Life)
- 1 baht per every 250 baht (or a fraction of 250 baht) of the premium
- The duty of the stamp payer is the insurer/insurer.
7. Life Insurance Policy
- 1 Baht for every 2,000 Baht (or fraction of 2,000 Baht) of the Sum Insured.
- The duty of the stamp payer is the insurer.
- Note: If more than 20 baht, reduce duty to 20 baht.
8. Receipt/receipt (in some cases)
- 1 baht for every 200 baht (or fraction of 200 baht) for receipts relating to the transfer/sale of property/transfer of ownership
- The duty of the stamp payer is the payee/holder.
- Note: Only if registration/transfer/sale of property is required by law.
9. Counterpart/Shredder
- Special conditions apply according to the instrument type.
- Note, in some “original” cases, duties/counterparts may be paid in lieu of or with other conditions.
10. Electronic instruments
- Multiple traditional instrument types (leasing at/hire purchase/transfer of shares/contract of employment, etc.)
- The duty of the taxpayer by paying through the IRS system instead of actually stamping.
- Note: There must be a duty certificate code and the process according to the Notification of the Director-General of the Revenue Department.
Example of calculation
How to calculate stamp duty in case of “house lease” 15,000 baht per month for a period of 1 year
Lease Information
- Monthly rent = 15,000 baht
- Rental period = 1 year (12 months)
- Total rent over the life of the contract = 15,000 × 12 =180,000 baht
Statutory stamp duty rate
According to the Stamp Duty Rate Account (Type 5 “Property Lease Instrument”)
Duty rate = 1 THB per 1,000 THB or fraction of 1,000 THB of “Total rent for the duration of the contract”
Calculation step
Total rent = 180,000/1,000 = 180
Therefore, the stamp duty payable = 180 baht.
Additional notes:
- If the rental contract does not specify a fixed period, it is considered to be 3 years. According to the law, the rent→ must be calculated for 36 months.
- If the contract has a “counterparty” (i.e. retained by both the Lessor and the Lessee), only one original duty shall apply.
Reference: https://www.rd.go.th