Thailand waves tax for startup investors

Thailand's cabinet has approved a royal decree that waives capital gains tax for startup investors in the country. The move could bring in about USD9.6bn in funding to local startups over four years, according to the Digital Council of Thailand. The capital gains tax waiver is for investments in startups associated with 12 targeted industries, including smart electronics, quality tourism, food processing, and robotics. Income tax associated with profits from the sale of startup shares will be waived for both individuals and juristic persons. Local and foreign corporate venture capital funds and foreign private equity trusts will see income tax waived for profits derived from the sale of shares in local startups, according to reports.