A proposal put forward by the Move Forward Party (MFP) to hike the corporate tax rate could cause the profitability of large-cap companies on the Stock Exchange of Thailand (SET) to fall 3.5-3.7%, says DBS Vickers Securities (DBSV).
The MFP, which won 152 House of Representatives seats in the May 14 general election, proposed raising the rate of corporate tax from 20% to 23% for companies generating a profit of more than 300 million baht.
