Investors to largely avoid new stock tax

Investors to largely avoid new stock tax

Levy predicted to hit the biggest traders

Most individual investors will not be affected by the Finance Ministry’s plan to slap a tax on share sales from the Stock Exchange of Thailand (SET), says Revenue Department director-general Ekniti Nitithanprapas.

Last week Finance Minister Arkhom Termpittayapaisith said the ministry might finally end the waiver for a financial transaction tax in 2022 to generate additional revenue. The financial transaction tax has been on the books since 1991, but has always been waived.

Mr Ekniti said 80-90% of stock investors would not be affected by this tax.

He said the department was studying a plan to implement this tax, based on the principle it would not impact small investors. The ministry expects to propose to the cabinet ending the tax…