Thailand’s Finance Ministry will waive corporate income, valued-added, business and stamp taxes for the country’s real estate investment trust buyback program to ease impact of the Covid-19 outbreak on domestic businesses.
- Companies must agree to repurchase their assets within two years after agreeing to sell them into REITs, according to a Finance Ministry statement on its website
- Cabinet meeting on Tuesday approved the tax measures
- REIT buyback program will provide domestic firms with access to more funding sources, which have been limited by the pandemic
- About 30b baht of assets are expected to be sold into the REIT buyback program: ...
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