Thailand: Reports on tax exemptions for institutional investors ‘misleading’

Thai authorities said that 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. Thai government spokesman Anucha Burapachaisri said that while pension funds and market makers won’t have to pay, other institutional investors must do so. Anucha said reports on exemptions for institutional investors are “misleading”. According to the policy approved by the cabinet, a tax of 0.05% will be imposed on stock transactions, which will be raised to 0.1% some time in 2024. Anucha said the level was similar to or lower than in other Asian countries. The government expects to generate about THB8bn (USD2.53bn) in revenue in the first year, which may double when the levy is increased.