Bangkok, (VNA)– Thailand will tax stock transactions again next year after 30 years of waiver.
Thailand’s Governmentspokesman Anucha Burapachaisri has recen🗹tly said that institutional investorsin the country will be subject to the transaction tax except for pension fundsand market makers.
Under the new regulationapproved by the Thai cabinet last week, the tax rate of 0.05% will be appliedto securities transactions on the Stock Exchange of Thailand next year and itwill increase to 0.1% in 2024. The regulation will take effect 90 days afterit’s announced in the Royal Thai Government Gazette. The Thai government spokesmansaid that the country’s tax rate is the same or lower than that of other Asiancountries. The tax is expected to contribute to the Thai government's budgetrevenue by about 8 billion THB (230 million USD) in the first year ofimplementation and could double to 16 billion THB in the following years. Earlier, Thai FinanceMinister Arkhom Termpittayapaisith said that the re-imposition of tax on securities trading would create fairness in tax collection, butwould not have a great impact on the market. Termpittayapaisith stressedthe tax will not affect the development of new products on the stock market andretirement savings. The Stock Exchange ofThailand has a market capitalization of about 20 trillion THB, more than 22times the figure of 900 billion THB in 1991. The market has about 5 millionsecurities trading accounts with 1 million active ones. Thailand halted the tax in1991 to help promote stock trading./.
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Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
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Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
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Illustrative photo (Photo: Workpermit) 
