Thailand Plans New Individual Savings Investment Accounts With Tax Breaks

Thailand's Securities and Exchange Commission said on July 20 that the country plans to launch a new individual savings investment account scheme this year, with tax incentives to encourage residents to invest long term in stocks, bonds and mutual funds and to boost retirement savings. Under the initial proposal, individuals who invest at least 600,000 baht a year, or about $17,800, would qualify for tax benefits, according to 36Kr. The government is also considering children's investment accounts with tax relief on investment returns; under the proposal, parents could invest up to 200,000 baht a year for each child until age 20.