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  1. #1
    Thailand Expat misskit's Avatar
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    Stock market trades in Thailand to be taxed

    The Thai cabinet decided today (Tuesday) to revoke a law, which has been in force for more than three decades, exempting stock market share trades from financial transaction tax.


    Finance Minister Arkhom Termpittayapaisith said that the abrogation of the law means that all trading of stocks on the stock market, whether at a profit or loss, will be subject to a financial transaction tax of 0.1%.


    He said that the government is expected to gain at least 15 billion baht a year from the tax, adding that the Council of State will have to draft a law to impose the tax. Share traders will be given a 3-month grace period before the law comesinto force, following its publication in the Royal Gazette.


    The minister said that the new tax is part of restructuring, to enhance financial discipline and generate income for the state.


    Meanwhile, Revenue Department Director-General Lawaron Saengsanit said that 0.1% is just the ceiling rate and the actual rate has not yet been set.


    He added, however, that the seven types of Retirement Savings Funds remain exempt from financial transaction taxation.


    Dr. Pakorn Peetathawatchai, president of Stock Exchange of Thailand, said he will hold discussions with the Association of Securities Company about the system adjustments required to accommodate the taxation, the collection of which brokerage companies will undertake, before passing the money on to the Revenue Department.

    Stock market trades in Thailand to be taxed | Thai PBS World : The latest Thai news in English, News Headlines, World News and News Broadcasts in both Thai and English. We bring Thailand to the world

  2. #2
    Being chased by sloths Backspin's Avatar
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    Really stupid move. I understand the desire to soak the scoundrels but this is not the way to do it.

  3. #3
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    Quote Originally Posted by Backspin View Post
    but this is not the way to do it.
    What is the right way?

  4. #4
    CCBW Stumpy's Avatar
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    Quote Originally Posted by Backspin View Post
    Really stupid move. I understand the desire to soak the scoundrels but this is not the way to do it.
    FFS Skidmark. You post some really stupid shit.

  5. #5
    Thailand Expat harrybarracuda's Avatar
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    Thailand Says Most Institutional Investors Must Pay Stock Tax

    (Bloomberg) -- Most institutional investors in Thailand won’t be exempted from a tax levied on stock transactions that will resume next year after more than three decades, authorities said.
    While pension funds and market makers won’t have to pay, other institutional investors must do so, Thai government spokesman Anucha Burapachaisri said in a statement Saturday. Thailand defines institutional investors that will be subject to the levy as individuals trading on their own accounts, funds other than pensions, and securities companies, which aren’t market-maker accounts, he said.
    Reports on exemptions for institutional investors are “misleading,” Anucha said.
    A tax of 0.05% will be imposed on stock transactions, which will be raised to 0.1% sometime in 2024, according to a finance ministry document this week after the cabinet approved the policy. The levy will initially take effect 90 days after it’s notified in the Royal Gazette. Thailand halted the tax in 1992 to help promote equity trading.
    Anucha said the level was similar to or lower than in other Asian countries. The government expects to generate about 8 billion baht ($230 million) in revenue in the first year, which may double to 16 billion baht per year when the levy is raised.

    Thailand Says Most Institutional Investors Must Pay Stock Tax - BNN Bloomberg
    Warning: Be cautious if you are a fragile pink

  6. #6
    SANS SOUCI
    david44's Avatar
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    Seems poorly thought out

    CGT or similar on gains only or a levy on the brokers would not discourage volume esp in thin markets like SMEs or start ups

    To be fair regulation in theory is as prudent here as many wealthier economies.

    Since Saxena and the 97 debacle the oversight has improved.

    Enforcement and friends with benefits is an issue worldwide , just the corrupt are more blatant here.

    Rakesh Saxena and the Thai banking scandal that triggered Asia's financial crisis | Thai PBS World : The latest Thai news in English, News Headlines, World News and News Broadcasts in both Thai and English. We bring Thailand to the world
    “What contemptible scoundrel stole the cork from my lunch?”

  7. #7
    Chinese spy sabang's Avatar
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    It is not a capital gins tax, it is basically along the lines of a stamp duty. Stock sales remain free of CGT. Basically, I have no problem with it.

  8. #8
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    Quote Originally Posted by sabang View Post
    It is not a capital gins tax, it is basically along the lines of a stamp duty. Stock sales remain free of CGT. Basically, I have no problem with it.

    Gains not gins, take more tonic with it !!

    If you re read I never claimed it was CGT, I said such a move would.
    CGT also has flaws but in France ordinary folks have a better chance of home ownership for that very reason.

    A transaction tax is applied differently in different tax regimes, my point is any tax may be a barrier and a tax on losses is counter intuitive and will deter overseas investors.

    We all know once a revenue precedent set regimes short of cash will often raise rates and seldom abolish cash cows.

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