Rethink urged on proposed tax on overseas incomeMr Trawut recommends any tax on investment in foreign stocks be clearly defined to ensure fairness for all investors. The government is being recommended to review foreign income tax collection as a new tax will affect many retail investors who have invested overseas, says Jitta Wealth Asset Management. Jitta chief executive Trawut Luangsomboon said the Revenue Department should reconsider its plan to require those with income from abroad to include their assessed income in the calculation of personal income tax. "If the department collects tax on investments in foreign stocks, small investors would be affected more than wealthy investors," said Mr Trawut. He suggested the government also exempt capital gains tax for investments in foreign stocks, as such tax is now exempted for investing in local stocks.
