ANNOUNCEMENT 10 Jun 2009In June 2009, the government of Thailand announced a targeted tax change.
NUMBER OF INTERVENTIONS
Thailand Board of Investment (BOI) promotes new incentive scheme for new automobile types, Thailand Business News
June 15, 2009
The Thailand Board of Investment approved on June 10, 2009 further incentives aimed at making Thailand the automobile manufacturing hub in Asia. The incentive scheme was primarily extended to cover new automobile types and attract investment in this sector and covers large-scale investment. The application must be submitted in 2010 and fulfill the conditions such as investment in new assembly line, minimum investment value and minimum manufacturing capacity.
Investors were offered exemption of import duties on machinery and corporate tax exemption for 5 or 6 years depending on investment value.
The list of affected trading partners is based on Thailand's export destinations, as the measure is aimed at increasing the exports of cars produced within the country.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.