A tax break designed to attract more listings on Thailand's main stock exchange and small cap market is set to expire at the end of the year, and the government has no plans to extend to the incentive, Finance Minister Thanong Bidaya has been quoted as saying.
According to a report in the Bangkok Post, the government believes that the lower rate of corporate tax for newly listing companies is no longer needed, as the Securities and Exchange Commission has been inundated with new applications from private firms seeking to list on the bourse.
Under the scheme, introduced in 2001, new listings on the Stock Exchange of Thailand pay a reduced tax of 25%, down from 30%, for a period of five years, while new listings on the Market for Alternative Investment pay corporate tax at 20%, also for a period of five years.
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