Cabinet accepts FETCO proposals

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Group advises govt on using markets to secure funds

The Cabinet has accepted three proposals from the Federation of Thai Capital Market Organisations (FeTCO) on how to promote the use of local markets as a funding mechanism to stimulate the economy.

The Nation

The group submitted the proposals on Sunday at this year’s first meeting between public and private agencies and Prime Minister Yingluck Shinawatra in Chiang Mai, FeTCO chairman Paiboon Nalintharangkul said.

The proposals are designed to help the government find funding for infrastructure and economic development, he said.

The first proposal is to exempt offshore holding companies and funds covered by Thailand’s double-taxation treaties with Burma and Laos from paying withholding taxes on dividend and interest.

The meeting resolved that the Finance Ministry would consider appropriate requirements for those qualifying for the exemptions to negotiate changes in the treaties.

The second proposal is to provide basic financial knowledge for people in the upper North involved in implementing the Finance Ministry’s and FeTCO’s resolutions.

The third proposal is to upgrade…

Full story from The Nation at http://goo.gl/K3xDS