Thailand: BOI introduced 2 new tools to attract valuable investments

• Apr 27, 2017

In order to promote the country’s development in accordance with the government’s policy to become “Thailand 4.0”, the Thailand Board of Investment (BOI) has introduced new tools to boost and attract more new investment. More incentives will be offered according to the announcements of the following acts:

1) The Amendment of the Investment Promotion Act (No. 4) A.D. 2017

2) The Competitiveness Enhancement Act for Targeted Industries A.D. 2017

The Amendment of the Investment Promotion Act (No. 4) A.D. 2017
entered into force on January 25, 2017 and gives first priority to “Human Resources and Technologies”. The Act promotes investments in high technology and R&D in the country and offers corporate income tax exemption up to 13 years according to the BOI’s conditions.

Activities eligible for investment promotion under this Amended Act are as follows:

Summary of incentives under the Amendment of the Investment Promotion Act.

• Corporate income tax exemption up to 13 years
• 50 % reduction of Corporate Income Tax rate up to 10 years
• Exemption of import duty on machinery, raw and essential material (used for export products) and products used for R&D purposes
• Non-Tax incentives e.g. rights to own land, permit to bring into the Kingdom skilled workers and experts to work in investment promoted activities

The Competitiveness Enhancement Act for Targeted Industries A.D. 2017
entered into force on February 14, 2017. It is considered as a new tool, which has never before been used to promote investment in targeted industries.

Under this Act BOI has support to industries that invest in R&D, innovation promotion or specialized human resources development in targeted industries according to the BOI’s conditions.

www.boi.go.th
E-mail: [email protected]
Tel: 0 2553 8111
Application: BOI Thailand

Source: http://www.bangkokpost.com/business/news/1238930/boi-introduced-2-new-tools-to-attract-valuable-investments