Bangkok, 7 September 2022 – The Securities and Exchange Commission, Thailand (SEC) is seeking public comments on proposed principles and draft regulations on extension of the submission period for Private Equity Trust’s Investment Report (PE Trust-1) to enhance reporting flexibility for PE Trusts.
Pursuant to the Royal Decree No. 750 issued by the Revenue Department, which aims to promote startup funding, an exemption of revenue tax shall be given to juristic or non-juristic persons who notify PE Trust status with the SEC and transfer unit trusts to others in accordance with the investment and condition requirements as prescribed by the Revenue Department.
Currently, PE trustees are required to submit PE Trust-1 Report to the SEC office within 15 days as from the end of the financial period of the trust, but since such tax incentive may attract a growing number of PE trust establishments, the current submission period may be inconsistent with the current situation.
The SEC is therefore conducting the public hearing on the proposed principles and draft regulations on extension of the submission period of PE Trust-1 Report from within 15 days as from the end of the financial period of the trust to within five months as from the end of the accounting period instead. This extension would allow more time for preparing necessary documents and ensure consistency with the guidelines for submitting other documents as required.
The consultation paper is available at https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=831 . Stakeholders and interested parties are welcome to give comments and suggestions via the website or email: warunee@sec.or.th or chatchan@sec.or.th. The public hearing ends on 21 September 2022.
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