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Friday, March 29, 2024

Govt mulls first tax on stock trading in 30 years to cut budget gap

The Stock Exchange of Thailand in May 1975. The government is mulling the first tax on stock trading for more than three decades. (Bangkok Post file photo)

The government is considering taxing stock trading for the first time in more than three decades, along with making crypto traders part with a share of their profits, as the government hunts for revenue to fund billions of dollars in pandemic relief.

Prime Minister Prayut Chan-o-cha’s administration is expected to decide by end-January on the method and rate of taxing stock trading, as well as details on how to tax gains from trading digital assets including cryptocurrencies, according to Finance Minister Arkhom Termpittayapaisith. 

The government is seeking new sources of revenue to finance Covid stimulus measures and cut reliance on borrowing as…

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