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Thai taxation of the substituted payment for dividends
     
 

NVDR holders may gain the financial benefits of investing in a non-voting depositary receipts (NVDR) as a substituted payment for dividends from the Thai NVDR Company Limited (Thai NVDR). In principle, the substituted payment for dividends are identified in the NVDR prospectus Part 6 ďThai Taxation Considerations for Non-resident InvestorsĒ as income under Section 40(4)(a) of the Thai Revenue Code B.E. 2481 (A.D. 1938).

Therefore, NVDR holders will be unable to claim any refund or credit of the substituted payment for dividends as mentioned under Section 47 of the Thai Revenue Code B.E. 2481 (A.D. 1938). Only income under Section 40(4)(b) of the Thai Revenue Code B.E. 2481 (A.D. 1938) will be able to claim any refund or credit.

 

 
For more information, please contact SET Contact Center www.set.or.th/contactcenter +662 009 9999
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