The year 2019 is full of investment opportunities. The Office of the Board of Investment or the BOI has launched a special measure to stimulate investment and enhance competitiveness in Thailand. The BOI introduces the “Thailand Investment Year” incentive package to promote large-scale investments in technology-advanced targeted industries that will strategically drive the economic transformation of the country. The “Package” aims to attract investment projects with a minimum investment value of one billion baht in targeted activities and these projects must follow all BOI’s stipulated timelines and all deadlines along these timelines cannot be extended.
Investment incentives offered under this package is a 50% reduction of corporate income tax for 3 years from the end of a regular corporate income tax exemption period for investment projects in any area (except in Bangkok).
Conditions for investment promotion:
- Eligible projects must be targeted activities, except for those that do not have permanent locations, e.g. air and maritime transportation services, etc.
- Projects must already be entitled to corporate income tax exemption of not more than 8 years.
- Projects must have minimum investment capital (excluding cost of land and working capital) of at least one billion baht.
- The project must report the full project operation to the BOI within the stipulated timeline before the end of the regular corporate income tax exemption privileges both in terms of tax exemption period and amount.
- Projects must follow BOI’s stipulated timelines and every deadline along these timelines (starting from promotion acceptance deadline to full operation deadline) cannot be extended.
Applications for investment promotion under this measure must be submitted no later than December 30, 2019