1.1 exemption from income tax for debtors who benefit from an agreed reduction/cancellation of debt;1.2 exemption from income, value added, and special business taxes and stamp duty on income received from property transfers, sale of goods, provision of services, and restructuring instruments (e.g. share transfer deed); and1.3 exemption from income and special business taxes and stamp duty for income received from transfer of mortgaged property to a third party, provided that the exempted portion must not exceed the debt amount owed to the mortgagee.
The restructuring and transfer must be completed by 31 December 2009 and must comply with the Bank of Thailand's regulations.
2.1 exemption from value added and special business taxes and stamp duty for income received from and for partial-business transfer related instruments; and2.2 a reduction of the government transfer fee for the transfer of immovable property.The partial business transfer must be completed by 31 December 2009.
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