When people say an inheritance is “tax-exempt,” distinguish the value of the entire estate from the value received by each beneficiary. In general, inheritance tax is based on the net inheritance each recipient receives from each deceased person, and tax applies to the portion above the legal threshold.
Key rules to understand before calculating
- The Revenue Department gives a general threshold of more than THB 100 million in net inheritance per recipient, from each deceased person.
- The calculation depends on which assets fall within the law and on eligible inherited liabilities that may be deducted.
- The tax rate depends on the relationship between the recipient and the deceased, such as an ascendant or descendant versus other recipients.
- The law includes specific conditions and exemptions, so a single asset’s price is not enough to determine tax liability.
Start by listing assets and liabilities and collecting valuation documents. Then check the Revenue Department’s guidance on who is liable for inheritance tax, how tax is calculated and which rates apply, and the latest ministerial regulations on its inheritance tax law page before filing or transferring assets.
About the referenced video
The embedded video summarizes general financial ideas about inflation, debt, emergency reserves, and diversified investing. It does not discuss inheritance tax or tax rates, so this article cites the Revenue Department for its legal information.
Important: Asset valuations and exemptions depend on the facts of each case. Use this article as an initial checklist and seek guidance from the Revenue Department or a tax professional when several asset types or a dispute are involved.
Video note: The original video shown on this page is not evidence for the article’s content or claims.