Bangkok--Dec 15--SET
Thailand Securities Depository Co., Ltd. (TSD), in conjunction with the Association of Investment Management Companies (AIMC), and the ‘Let Your Money Work Through Mutual Funds’ Project, will host the “Last Chance for Tax Reduction Via LTF-RMF” Fair during Dec. 17- 19 at the Exhibition Hall, 1st Floor of the SET Building, 10.00 am — 9 pm all three days.
The TSD President, Mrs. Nongram Wongwanich, said that 17 investment management companies have actively launched a total of 78 long-term equity funds (LTF) and retirement mutual funds (RMF). The government is providing tax privileges to investors which are encouraging the investment management companies to establish the funds. The funds are comprised of 22 LTFs and 56 RMFs.
Investment in each LTF or RMF is tax deductible but must be no more than 15% of an investor’s total income or THB300,000. In addition, the capital gain from unit trust redemption will also be tax-exempted.
“In order to provide opportunities for people interested in these funds to access all the essential information before year-end, the TSD, in cooperation with the AIMC and the ‘Let Your Money Work Through Mutual Funds’ Project is hosting the “Last Chance for Tax Reduction Via LTF-RMF” Fair that will gather about 60 funds under one roof.
The focus of this fair is to provide an opportunity for investors to meet with all the investment management firms, acquire information, as well as consult with them about tax saving. Investors then can compare all the funds they’re interested in before investing. They can also buy the units and get promotional gifts at the fair,” Mrs. Nongram said.
The President of the AIMC, Mr. Adisorn Sermchaiwong, noted that investing in an LTF or a RMF could bring the investor tax deductions as high as THB600,000 a year. To gain this privilege, an investor must buy the RMF units every year for a minimum of five years. The RMF units can be redeemed when the unit holder turns 55. For an LTF, savings will be mobilized mainly via equity funds. Investing in an LTF need not occur annually. Presently there are about 78 LTF and RMF funds in the market.
“The Last Chance for Tax Reduction Via LTF-RMF Fair” will be a great opportunity for investors to shop and select the funds suited to their needs. Meanwhile, the investment management firms can also expand their customer base, get to better know their customers’ demands, as well as provide the right information about investing in their mutual funds to their customers.”
The President of the Thai Investors’ Association, Mr. Montree Tirakhonthai, commented that the mutual funds are suited to people who don’t have sufficient time to study investment information or are not otherwise savvy investors. Anyhow they’d still like to save. The RMFs are best for people who need to secure their life after retirement, while the LTFs are a vehicle for generating savings prior to retirement.
“A good financial planner should thus allocate his/her savings into both types of funds. The Last Chance for Tax Reduction Via LTF-RMF Fair is a golden opportunity to shop around for the funds that best respond to your own personal requirements. This period is also the last chance investors will be able to receive tax privileges for investing in the LTFs/RMFs. In addition, they will learn more from interesting seminar topics plus receive special gifts as well by participating in some of the fair’s activities. So, don’t miss it! Otherwise, you may have to wait a long time before you will get your next opportunity.”
The Last Chance for Tax Reduction Via LTF-RMF” Fair will include the booths of the 12 participating investment management firms in the Exhibition Hall, 1st Floor of the SET Building, and the ‘Clinic Corner’ where face-to-face consulting with fund professionals will be possible.
Interesting seminar sessions will be available two times per day at 11:00 hrs. and 15:30 hrs. The scheduled seminars are as follows:
Friday Dec.17
“Smart Planning with LTF/RMF”
“Tips for Making the Most Out of Investing in the LTF/RMF”
Saturday Dec.18
“How to Make the Best Decision in LTF/RMF Investment”
“(No Secret) Tips in Investing Long-Term in the SET”
Sunday Dec.19
“Saving for Retirement”
“Tax Saving Techniques with LTF-RMF”
For more information,
please contact the Corporate Communication Dept.:
Ladawan Kantawong Tel: 0-2229-2036 /
Kulvida Jintakawong Tel: 0-2229-2037 /
Nattaporn Boonprapa Tel: 0-2229-2049 End.