News No.   :  20/2007

Date             :  6 June 2007

Subject        : Tax Measure to promote investment in RMF
--------------------------------------------------------------------------------------------------------------------------------                         

                        On 5 June 2007 the Revenue Department (RD) met with representatives from Securities and Exchange Commission and Association of Investment Management Companies to discuss about ways to improve tax measures to promote investment in Retirement Mutual Fund (RMF).

                         Mr. Satit Rungkasiri, Deputy Director-General and spokesperson of RD said, “We concluded that investment procedures in RMF should be similar to the Government Pension Fund and Provident Fund as these 3 Funds have the same characteristics and objectives.  Those holding investment units for 5 years will still be entitled to tax exemption on capital gains.  Furthermore, it was recommended that allowance deductions be amended in accordance with the investment criteria of Government Pension Fund and Provident Fund.  Therefore, RD will bring these recommendations to the Ministry of Finance for consideration.”