Double tax breaks for private investors on new projects
Thailand plans to double tax breaks for private investors this year |to boost sluggish investment, a senior Finance Ministry official said yesterday.
Somchai Sujjapongse, the ministry’s permanent secretary, told reporters the proposal would be submitted to the Cabinet by today.
Investors will be able to double their tax deductions if they start a project this year, said Somchai, adding that new projects will not need to be completed within a year to qualify.
The junta, which seized power two years ago in a May 2014 coup, has focused on driving public infrastructure investment and private investment to boost economic activity. But consumption and exports have been persistently weak and Thais are |deeper in the red than most in Asia, with record household debt at 81.5 per cent of gross domestic product. |– Reuters
MUANG THAI LIFE ASSURANCE UNVEILS
NEW PRODUCT
Muang Thai Life Assurance has unveiled a new offering targeting people looking for insurance and a long-term investment via a combined| life-insurance policy and mutual |fund.
President and chief executive Sara Lamsam said Muangthai Unit-Linked 1 was created because the firm believed this segment had room to grow, especially among younger consumers who understood the importance of investing and financial planning.
The offerings are a smart option, particularly during times of low interest rates, he added.
He said customers could select the type of investment they wanted in line with their requirements.
“For this year, we expect Muangthai Unit-Linked 1 will receive good feedback from middle-income customers who are looking for a new investment model together with life protection,” he said.
He said customers could adjust the sum insured and withdraw or increase funds. He described the offering as a flexible financial programme for each life stage.
