On 05 February 2016, Ministerial Regulation Governing Property Values BE 2559 was issued, prescribing the valuations of inherited property for the purposes of Thailand's Inheritance Tax Act.

This Insight has been updated with the prescriptions in Min Reg BE 2559.

As Prescribed in the Inheritance Tax Act

As prescribed in the Inheritance Tax Act the valuation of inherited property is the price or value on the date the inherited property is received, as follows:

For inherited immovable property in Thailand		The appraised value of the Thailand Lands Department
For inherited shares and securities listed on Thailand's Stock Exchange		The price at the time of closure of the Thailand Stock Exchange
For other inherited property		The price or value as prescribed in a Ministerial Regulation

As Prescribed in the Ministerial Regulation BE 2559

As prescribed in the Ministerial Regulation BE 2559, issued on 05 February 2016, the valuations of the referred to as "other" inherited property in the Inheritance Tax Act, shall be the following values on the date the inheritance is received:

For inherited immovable property in a foreign country		The appraised value for registering rights and juristic acts under the law of the foreign country
		If a foreign country does not have or use appraised values the value of an agency or organization accredited or approved as a real estate appraiser
For inherited shares and securities listed on a foreign Stock Exchange		The foreign Stock Exchange's trading price
For inherited shares not listed on a Stock Exchange		The value of the shares as per the audited financial statements of the company for the fiscal year prior to receiving the shares
For inherited securities not listed on a Stock Exchange		In the case the first offering price is lower than the redemption price the first offering price
		In the case the first offering price is not lower than the redemption price the redemption price
For inherited cars and motorcycles in Thailand		The appraised value of the Transport Department
		If no such appraised value the value of a person or entity that is a member of a professional body in Thailand for the valuing of such property
For inherited cars and motorcycles in a foreign country		The value of a person or entity that's a member of a professional body in the foreign country for the valuing of such property
For inherited ships and aircraft		The value of a person or entity that's a member of a professional body for the valuing of such property
For inherited deposits with banks, financial institutions or others		The total of the deposit and accrued interest or other benefit receivable

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