On 02 Dec 2022, the Thailand Revenue Department issued Press Release No. 6/2566, notifying the Government's re-imposition of specific business tax for sales of securities on the Stock Exchange of Thailand in 2023.

This Tax Insight has been updated for the Revenue Dept's press release.

For the purposes of promoting and attracting investment in listed companies, the Government issued Royal Decree (No 240) on 25 Dec 1991 and from 1 Jan 1992, specific business tax has been exempted for a sale of securities on the Stock Exchange of Thailand.

But whilst the exemption has been in place for 30 years, the Government has seen it fit to repeal the exemption and re-impose the specific business tax for sales of securities on the Thailand Stock Exchange, according to the Director-General's Press Release No 6/2566 issued on 02 Dec 2022, as follows:

For the 2023 year		Tax rate
For sales of securities on the SET from the date the new law enters into force to 31 Dec 2023		Specific Business Tax at the rate of 0.055% (i.e. half-rate SBT)*

For the 2014 year onward		Tax rate
For sales of securities on the SET from 01 Jan 2024 onward		Specific Business Tax at the rate of 0.11% (i.e. full-rate SBT)*

* Brokers will be required to deduct the SBT from the sellers' sale proceeds and remit it to the Revenue Department.

This Insight will be updated again once the new law has been issued.

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