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 “Thai Taxation Considerations for Non-resident Investors” 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.
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