BANGKOK, Dec 17 (Reuters) - Thailand's stock trading volume will be impacted if the government introduces a transaction tax on securities trades on the Stock Exchange of Thailand (.SETI), the bourse president said on Friday.
Pakorn Peetathawatchai was speaking at a news conference after media reports that from 2022, the government was planning to impose a 0.1% tax on equities trades by entities whose monthly trading volume is more than one million baht ($29,976).
The plan was earlier reported by Reuters. read more
Register now for FREE unlimited access to Reuters.com
"It's a policy of the government that sees a need to collect such tax, which has been waived for a long time, and it has to use tax money to stimulate the economy," Pakorn said.
If the tax is imposed, some investors will be affected, particularly those involved in high frequency trading, which accounts for 20%-30% of a current daily turnover of around 90 billion baht ($2.7 billion), he added.
"We have to wait to see and how we have to adjust," he said.
The tax was like a Tobin tax applied on financial transactions, akin to those in India and Taiwan.
On Friday, Finance minister Arkhom Termpittayapaisith declined to comment on the tax when asked by reporters.
The main stock index was down about 0.4% in early afternoon trade.
($1 = 33.36 baht)
Register now for FREE unlimited access to Reuters.com
Reporting by Orathai Sriring, Kitiphong Thaichareon and Satawasin Staporncharnchai; Editing by Martin Petty
Our Standards: The Thomson Reuters Trust Principles.
"exchange" - Google News
December 17, 2021 at 03:10PM
https://ift.tt/3yA5Jm6
Thai tax on stock trades would hit trading volume, exchange chief says - Reuters
"exchange" - Google News
https://ift.tt/3c55nbe
https://ift.tt/3b2gZKy
Exchange
Bagikan Berita Ini
0 Response to "Thai tax on stock trades would hit trading volume, exchange chief says - Reuters"
Post a Comment