Government has raised shopping tax-deductible to Bt50K via e-Refund, from Jan 1 – Feb 15, 2024.
Bangkok condo market slows in Q3: The Bangkok condo market slowed in the third quarter of 2023, plunging to its lowest point for supply and demand since the third quarter of 2021, mainly attributed to rising interest rates. Property consultant Knight Frank Thailand reported new condo supply launched in the third quarter of 2023 totalled 5,367 units, down 45% year-on-year. The number of units sold during the period was 2,117, a 30% year-onyear decline. Bangkok Post b
KKP hits back at short selling concerns: Brokerage defends itself as Thai regulators investigate the controversial trading practice. Kiatnakin Phatra Securities (KKP) brushed aside speculation by stock market regulators about “naked short selling”, saying the company followed the law. Bangkok Post
The SET has set up a special working committee to investigate naked short selling with reps from the Korea Exchange and the US’s Nasdaq stock exchange to help Thai regulators examine possible offences. Link URL: https://www.bangkokpost.com/business/general/2689733/set-to-probe-naked-short-selling
NESDC cuts Thai growth: Revises outlook down to 2.5%. The National Economic and Social Development Council (NESDC) has cut Thailand’s GDP growth for this year to 2.5%, but expects expansion of 3.2% next year as export momentum begins to improve, said secretary-general Danucha Pichayanan. Bangkok Post
FTI seeks measures to help ailing SMEs: Urgent measures from the government are necessary to solve a financial crisis among 12,898 small and medium-sized enterprises (SMEs), now at risk of succumbing to a huge level of debt worth 61 billion baht, says the Federation of Thai Industries (FTI). Bangkok Post
The cabinet approved TH ESG Fund (TESG), a L/T savings fund that provides tax deductions for individual taxpayers of up to 30% of income or up to Bt100K/year for 8 years from 2023-2032, providing purchaser holds the units for 8 years.
Farmers call for higher sugar cane price: The official price of sugar cane for the new crop year will be formally announced early next month. Sugar cane farmers plan to ask the authorities to set the price of sugar cane at 1,400 baht a tonne for the 202324 crop year, which is higher than the estimated price to be tabled by the Office of the Cane and Sugar Board (OCSB). Bangkok Post
Shipping out: Vehicle exports rose by 12.2% in the October, but weak domestic sales continue to limit production. Automotive exports from Thailand increased by 12.2% year-on-year to 105,726 units in October, driven by growing demand for pickups, especially in the Middle East, but domestic sales remained sluggish because of high household debt. Bangkok Post
SEC is preparing to ban Thai investors from trading NVDR line, aiming to close avenue for fraud due to misuse of instrument, ban was endorsed SEC’s board and will be announced later, Bangkokpost.
