Thailand to Raise Tax Breaks, Trim Lock-Ups to Buoy Stocks (1)

Thailand plans to raise the tax allowance and trim lock-up periods for holders of ESG-focused funds as part of efforts to bolster the local equity market, hit by a foreign investor exodus.

Individual investments of as much as 300,000 baht ($8,170) in ESG-focused funds will become eligible for tax breaks, up from 100,000 baht, said Pornanong Budsaratragoon, secretary-general of the nation’s Securities and Exchange Commission.

The government will also reduce the period that the investments must be held to qualify for the levy waiver to five years from eight years, she said, noting that the proposals will be forwarded ...