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Thailand Due To Announce Tax Incentives

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  • Thailand Due To Announce Tax Incentives

    Thailand Due To Announce Tax Incentives
    Mary Swire
    30 October 2015

    The Government of Thailand is set to announce further tax measures imminently, to stimulate the Thai economy, Finance Minister Apisak Tantivorawong has said.

    Apisak revealed at a press briefing on October 26 that the new tax breaks will be targetted at certain sectors, including the automotive, construction, computers, and machinery sectors, although he did not elaborate on the plans.

    Apisak also mentioned that further tax incentives will be considered at a later date to encourage the development of burgeoning industries.

    Thailand's Cabinet has already approved a number of tax measures recently to boost business confidence and encourage investment.

    Under the stimulus plan signed off by the Cabinet on October 13, corporate tax will be permanently set at 20 percent, after being reduced from 23 percent on a temporary basis since 2013.

    In addition, government venture capital funds will enjoy exemption from corporate and dividend taxes for a period of 10 years.

    The Government also hopes to encourage more investment in the real estate sector by cutting the two percent transfer tax, imposed on buyers based on a property's registered value, to just 0.01 percent for six months.

    tax-news.com
    http://thailandchatter.com/showthrea...ll=1#post45112
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