The application period had been due to finish at the end of this year.

It will also offer more tax benefit to the applicants during the extended period with new benefits to take effect from January 1, 2018.

Successful applicants in the special designated zones of the Eastern Aerotropolis (U-tapao), the Eastern Economic Corridor of Innovation (EECI) in Rayong and Sriracha, and the Digital Park Thailand (EECD) in Sriracha will be offered a two-year extension to the tax break period for corporate incomes after the expiry of the normal timeframe.

After the end of the additional tax break period, they will also be able to enjoy a 50 per cent tax break on corporate incomes for another five years.

BoI secretary-general Duangjai Asawachintachit said yesterday that the BoI had already specified the types of investments eligible for the new privileges in the Aerotropolis |zone, including aviation-related businesses.

It has yet to specify the investments eligible for the new tax privileges for the EECI and EECD zones, pending BoI discussions with related state agencies.

The EEC spans from Rayong, Chachoengsao to Chonburi.

Meanwhile, investors in the targeted industries in EEC zone will gain a 50-per cent tax waiver on corporate income for another five years after expiry of the current period.

Successful applicants for investment in the Aerotropolis, EECI, EECD and targeted industries, are required to join with educational institutes to provide a science and technology course to employees or students.

The number of attendees at the course must be at least 10 per cent of their total employees or at least 50 people in the case of large companies.

Investors in the general zones in EEC will be given a 50 per cent tax waiver on corporate income for three additional years after the end of normal period.

Source: http://www.nationmultimedia.com/detail/Economy/30332387