ANNOUNCEMENT 27 Oct 2015In October 2015, the government of Thailand announced a targeted tax change.
NUMBER OF INTERVENTIONS
Sor 1/2558 - Re: Additional Amendments of Eligible Activities for Investment Promotion in accordance with the BOI Announcement No. 2/2557
On 27 October 2015, the Board of Investment of Thailand announced additional incentives for certain projects, thereby amending its Investment Promotion policy that had been announced on December 2014.
Additional incentives in terms of Corporate Income Tax exemptions of 3-5 year duration were provided to investments in manufacture of the certain vehicle parts such as for fuel systems, transmission systems, engine systems, safety systems, suspension systems, steering systems, cooling systems, exhaust systems, air conditioning systems, ultimate tensile strength steel and ball bearing for vehicles. New manufacturing projects for these parts, and all other vehicle parts, are already eligible for incentives in the form of import duty exemption on machinery and on raw/essential parts & materials for manufacturing export products (for 1 year).
Incentives will be provided also for industrial real estate development projects for developing rubber industrial zones. These incentives include corporate income tax exemptions, import duty exemption on machinery and on raw/essential materials used in manufacturing of export products (for 1 year).
The incentives announced here are applicable retrospectively from 16 September 2015.