Sunday, August 7, 2022

Thailand BOI Approves Extension of Investment Acceleration Package

The Thailand Board of Investment (BOI) at a meeting today approved a number of policy measures, namely an extension of the investment acceleration package and EEC incentive package, special incentive package for Yothi Medical Innovation Zone and classification of AIT and TISTR as science and technology zones.

In order to further stimulate investment to fuel economic recovery, the Board approved a one-year extension of the existing incentives to accelerate investment in large-scale projects.

Apart from a standard 5-8 years corporate income tax (CIT) exemption, project applications filed by end-2022 will be eligible for an additional 50% CIT reduction for a period of 5 years, on the condition they realize investment of not less than 1 billion baht within 12 months of the investment certificate issuance, Ms Duangjai told reporters.

“We are seeing an improvement in the overall business sentiment, but the ongoing uncertainties related to new variants of Covid-19 require continuous incentives to support investment.”

Thailand Board of Investment (BOI) Secretary General Ms. Duangjai Asawachintachit

As the Eastern Economic Corridor (EEC) is Thailand’s prime area for investment, particularly those in targeted industries, the Board approved extension of the special incentives scheme for investments in EEC.

Investments in the target industries will be entitled to additional corporate income tax incentives if they are engaged in human resource development programs such as co-operative education programs, work-integrated learning and dual education programs.

Applications for these additional incentives must be filed by the end of 2022….

Read the complete story on Thailand Business News

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