'Super savings funds' to replace LTFsAn advertisement for RMF and LTF funds are seen in Bangkok in 2015. (Bangkok Post file photo)The cabinet has approved a new type of stock funds to replace tax-friendly long-term equity funds (LTFs) while doubling the amount people can invest in retirement mutual funds (RMFs). From 2020 to 2024, super savings funds (SSFs) will substitute LTFs. Tax-deductible investments in the funds will double to 30% of taxable income but the cap remains at 500,000 baht when combined with SSFs and other types of retirement funds. Finance Minister Uttama Savanayana said on Tuesday the funds aimed to promote early savings and retirement planning among people.

Source: Bangkok Post December 03, 2019 12:22 UTC