Expanded options for investors
The Finance Ministry expects the new tax-deductible retirement savings scheme, known as the Thailand Individual Savings Account (TISA), to become available in the next tax year, according to the Fiscal Policy Office (FPO) chief.Vinit Visessuvanapoom, director-general of the FPO, said the ministry is preparing an overhaul of the TISA framework to increase flexibility and expand investment options for taxpayers.
The revised structure broadens the range of eligible assets beyond investments made solely through mutual funds, aligning with changing economic conditions and evolving investment technologies, he noted.
The ministry believes there are more effective monitoring mechanisms and a wider range of investment assets available, so it is considering allowing taxpayers to independently choose to save or invest in individual stocks approved by the Securities and Exchange Commission (SEC), said Mr Vinit.
The reform would allow individuals to select investment vehicles that best suit their financial knowledge, preferences and needs, he said.
