Is there a gift tax in Thailand?

Thailand's gift tax (Revenue Code, Section 42): **Tax rates:** - Gifts from ascendants/descendants: 5% on amounts exceeding THB 10 million per tax year - Gifts from others: 5% on amounts exceeding THB 20 million per tax year - Alternatively, the recipient can include the gift in their annual income tax return (may result in higher tax at progressive rates) **Exemptions:** - Gifts between spouses - Gifts under the threshold amounts - Gifts for education or medical purposes - Gifts to charitable organizations - Ceremonial gifts at customary occasions **For property:** - Transfer of immovable property as a gift is subject to standard transfer taxes (transfer fee, stamp duty, withholding tax) at the Land Office - Assessed value may be based on government appraisal value, which is often below market value **For foreigners:** Same rules apply to gifts received in Thailand. International gifts may have additional reporting requirements.