The Federation of Thai Capital Market Organizations (Fetco) has urged the Finance Ministry to abandon a proposal to collect a transaction tax from share trades, claiming the stock market still needs tax incentives to support long-term investment.
Fetco on Thursday submitted an open letter to the ministry to oppose its plan to impose a 0.1% tax on securities trades.
The federation's chairman Paiboon Nalintrangkurn said the tax will severely affect the market's liquidity by discouraging people from investing.
