Sales tax seen hitting SET liquidity
Concerns are being expressed that market competitiveness will be a casualty of the planned taxation on share sales
The planned taxation on share sales may cost the Stock Exchange of Thailand (SET) the title of the most liquid stock market in Asean next year as it will greatly decrease the market’s competitiveness, said Paiboon Nalinthrangkurn, chairman of the Federation of Thai Capital Market Organizations (Fetco).
The tax will raise both transaction costs for investors and fundraising costs for Thai companies, and consequently propel investors to seek higher returns in other markets, he said.
Mr Paiboon…
