TAX REVENUE TO RISE

Economy August 29, 2018 01:00

Thailand is expected to earn at least Bt1.6-Bt2.5 billion in income tax revenue annually after the Cabinet approved the Ministry of Finance’s proposed imposition of a 15 per cent withholding tax on fixed income funds at its meeting yesterday.



Apisak Tantivorawong, finance minister, said the move aimed to bring fairness among investors who buy debt instruments directly or through mutual funds , paying the same tax rate at 15 per cent.

Previously, investors who bought debt instruments through fixed income funds were subject to a withholding tax of 10 per cent. - The Nation

NESTLE-STARBUCKS DEAL 

Nespresso maker Nestle yesterday said it has sealed a deal to market the products of US coffee giant Starbucks around the world, outside of its cafes.

Swiss food giant Nestle, which also produces Nescafe instant coffee, had announced in May it would pay $7.15 billion (6.13 billion euros) for the rights to market Starbucks coffee globally.

Under the deal, some 500 Starbucks employees in the United States and Europe will join Nestle, the Swiss company said in a statement.- Agence France-Presse