FETCO floats New funds
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FETCO has proposed to set up replacement funds for LTFs whose tax privileges will end next year. Based on its proposal, personal income tax deduction will be set at a maximum of 20 per cent of investment, but not exceeding Bt100,000 and not more than the tax amount to be paid. Fund holders must hold on to the units for a minimum of 10 years.
Attractions of the proposed funds include:
1 Tax privileges (20 per cent tax deduction but not more than Bt100,000 – purchase of funds worth about Bt500,000) and no more than the amount of payable tax. It is different from LTFs as the proposed tax deduction is on tax to be paid while the LTF tax deduction was on income.
2 FETCO’s proposed investment in infrastructure funds and sustainable SET stocks will boost incentives and the chance for it to be approved by the Cabinet. – Prakit Siriwattanaket, Vice President, Kasikorn Securities
