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Wednesday, March 29, 2023

Levy on share sales at risk from Fetco opposition

The imposition of the financial transaction tax on share sales by individual investors might be delayed because of opposition from the Federation of Thai Capital Market Organizations (Fetco), says Finance Minister Arkhom Termpittayapaisith.

He said the Secretariat of the Cabinet recently sent back the draft law to the ministry for reconsideration following opposition from Fetco. This prompted the ministry to set up a team to consider Fetco’s proposals for the law.

Mr Arkhom said he could not predict whether the law would come into force as expected by the middle of this year.

The law takes force after publication in the Royal Gazette. There is a 90-day grace period to give related parties time to comply with the law.

The draft law was approved by the cabinet last November, ending more than 30 years of waivers.

The tax has been on the books for more than 30 years,…

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