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Thailand Taxes Government Bonds

by Mary Swire, Tax-News.com, Hong Kong

14 October 2010


The Thai government has removed a withholding tax exemption on the trading of government bonds as it seeks to contain a sustained rise in the value of the nation's currency, the baht.

The 15% withholding tax on bond interest and gains will be reinstated on government bonds following a 10% rise in the value of the baht against the US dollar since the start of this year. Bonds have been exempt from the tax since 2005 when the government sought to increase foreign participation in the market for government securities.

The tax is effective as of October 13, but will not be enforced retroactively. It is unclear how long the measure will remain in place.

TAGS: tax | economics | interest | fiscal policy | capital markets | Thailand | withholding tax | currency

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