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The extension of period and adjustment of the terms regarding tax privilege for investing in Long-term Equity Fund (LTF)
The Council of Ministers has resolved to approve the extension of period and adjustment of the terms regarding tax privilege for investing in Long-term Equity Fund (LTF) according to the proposal of the Ministry of Finance, which the substantial details are as follows:-
To extend the period of the exemption from a personal income tax for an income that is equivalent to the investment amount in LTF but limitation to not exceeding 500,000 Baht, Such extension shall be provided for three years, namely The exemption from a personal income tax characterized in the deductible allowance for investing LTF during 1 January 2008 to 31 December 2016 shall be extended and replaced by during 1 January 2008 to 31 December 2019.
As a result, the exemption from a personal income tax for income that is equivalent to the investment amount in LTF shall be cancelled as from 1 January 2020 onwards.
To adjust the period of holding the investment units in LTF which will be brought as from 1 January 2016 onwards that is changed from not less than 5 calendar years to be not less than 7 calendar years.
As for the investment units in the LTF as from 1 January 2020 onwards, it is determined that the income derived from a sale of such investment units returned back to the LTF shall be exempted from a personal income tax as same as the income arising from the sale of the investment units in other mutual fund whereby the investment units in the LTF prior to 1 January 2016 and during 1 January 2016 to 31 December 2019, respectively, the money or any other benefit as derived from a sale of the investment units returned back to the LTF shall be exempted from a personal income tax provided that such investment units in the LTF shall be held at least 5 calendar years and 7 calendar years, respectively.
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