News feed
FPO proposing new LTF tax relief
The Fiscal Policy Office will propose a new tax privilege for long-term equity funds (LTFs) to the Finance Ministry, with the minimum investment period for the funds set to increase from five to 10 years.
The FPO is deciding whether to continue the tax-benefit period for LTFs past the present expiration date of 2016.
The proposal is aimed at supporting national savings, FPO director-general Krisda Chinavicharana said, adding that the ceiling for the tax deduction might be lowered.
Under the proposal, 15 per cent of annual income, or Bt500,000, whichever is lower than the current figure, is deductible.
Energy price reform
Energy Minister Narongchai Akrasanee says the government expects to finish its energy-price adjustments by next quarter, provided world oil prices stay under US$80 a barrel.
The process includes raising the excise tax on diesel and equalising prices for liquefied petroleum gas used for transport and cooking, and increasing
the price of natural gas for vehicles.
Sugar to ethanol
The Cane and Sugar Board has approved in principal a proposal for sugar mills to feed ethanol factories.
Sirivudh Siempakdi, a spokesman for the three sugar-cane associations, said the move was designed to reduce the amount of exported sugar, enhance the product’s value add and increase revenue for the cane and sugar industry in the face of low global sugar prices.
