Transcript of the above video:

As the title of this video suggests, we are discussing whether or not one actually is liable to pay Inheritance Tax. 

As we have noted in another video made contemporaneously with this one, notwithstanding the fact that one may not be of Thai nationality, one may be required to or be liable for Inheritance Tax here in Thailand. Now again this is going to be subject to a great number of facts in a given case but there are some rules of thumb to keep in mind. If the amount of money being inherited is less than 100 million Baht, it is a pretty good likelihood under those circumstances, Inheritance Tax may not be an issue. Again circumstantially dependent but 100 million Baht is kind of the rule of thumb everybody is very much aware of here in Thailand regarding whether or not one needs to be overly worried about it. Now you can get into issues regarding Net Probate Estate kind of thing. If one particular piece of estate may be less than 100 million but what if the whole estate is 100 million or more; again circumstantially dependent. I am not going to get into the nitty gritty of nitpicking around about who may or may not be liable for Inheritance Tax.

If you are worried about it, it is probably a good idea to contact a legal professional, gain some insight guidance on this. The thing to also understand is notwithstanding the fact you may not necessarily be liable for an inheritance tax for example inheritance of real property in Thailand in a foreign context oftentimes a Thai Condo, there may still be taxes associated with for example transfer of that condo from the decedent's estate over to the person inheriting its name. For example that may be a taxable event and may require some taxes associated with that. Again it depends on circumstances. Also selling assets which may or may not be in an estate or may be transferred over and then sold, there could be Capital Gains Tax consequences on that. Again the circumstances of a given case, the fact patterns surrounding that case, are definitely going to dictate whether or not one is liable to pay Inheritance Tax in the Kingdom of Thailand.