Mr Arkhom Termpittayapaisith, the Minister of Finance, confirmed that there will be no personal income tax collection on profits (Capital Gains) on the stock exchange after the Cabinet (Cabinet) approved the principle of canceling the specific business tax exemption for sales securities on the stock exchange or stock sales tax at the beginning of the week
“The Treasury insists that it does not collect two items, although some countries collect two clauses. The Treasury will only collect business tax on a single sale.” Mr. Arkhom said
The sales tax on shares will not affect small companies. Because of the current trading value in the stock market It is a trade of large companies. has a market share of only 11%, but has a turnover of around 95%, while retailers have a share of 89%, but only a turnover of 5%. It also follows the principle of equality and fairness for taxpayers. with income from the sale of shares Like other businesses, the Treasury collects a rate of 0.11% of the local total, but has an exemption period of 3 months and charges a rate of 0.055% in the first year for an adjustment. by storing it by time and let the broker deduct the delivery no tax filing
In addition, this does not make Thailand at a disadvantage from competitors. Because it accounts for only 0.22% of the increase in costs, compared to Hong Kong with 0.38% in finance costs, Malaysia 0.29% and Singapore 0.2%, similar to Thailand.
Including not benefiting a large person because there is a misunderstanding that there is a Market Maker tax exemption, which in this section does not include investors Including a tax exemption for mutual funds that sell investment units to pension funds such as social security funds. provident fund, etc.
By InfoQuest News Agency (01 Dec ’22)
Tags: Ministry of Finance, tax, sales tax, Termpittayapaisith magic
