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Thailand approves tax on financial trades to fill state coffers

Traders say levy on securities transactions will cut market liquidity

The Thai government's plan will tax some individuals conducting trades on the Stock Exchange of Thailand. (Photo by Shinya Sawai)

BANGKOK -- Thailand will by next year reimpose a long-suspended tax on financial trades in a bid to fund rising government spending.

The cabinet approved the plan on Tuesday to tax individual investors trading more than 1 million baht ($28,226) per month on the Stock Exchange of Thailand. The tax would be 0.055% of transaction value in the first year, then raised to 0.11% thereafter, regardless of profit or loss. Investors with transactions totaling less than 1 million baht per month will be exempt.

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