Thai gov. to tax (remitted) income from abroad for tax residents starting 2024 - Part II

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No irregularity found in baht movement, says central bank

BANGKOK, March 25 – No irregularities have been found in the baht movement in the aftermath of the massive earthquake and tsunami in Japan, according to Bank of Thailand (BoT) Assistant Governor Pongpen Ruengvirayudh.

She said the central bank had closely monitored the situation in the currency exchange market following the major quake and tsunami hitting Japan, but found no irregularity in the baht movement.

Foreign investors had not withdrawn investment from emerging markets in the wake of the natural disaster in Japan.

In the short term, the incident had affected exports in some areas, but in the long run, the export sector could benefit as Japan will import goods, particularly food, in larger volume.

In addition, it is believed Japan would shift its production base to other countries to reduce risks in case the natural disaster recurs.

Under the circumstances, Thailand would benefit from an inflow of direct investment in the long term.

Ms Pongpen said no irregularity had been also found in the foreign capital flows as the selling pressure by foreign investors in the Stock Exchange of Thailand (SET) remains normal. (MCOT online news)

-- TNA 2011-03-25