ANNOUNCEMENT 24 Nov 2010In November 2010, the government of Thailand announced a change in the tax legislation for exporters.
NUMBER OF INTERVENTIONS
On 24 November 2010, Thailand published Announcement No. 1/2554 including import duty exemptions on imports of raw and essential materials required for production of export products and on products which are imported for re-export. The announcement was effective immediately.
The exemption was available only for companies that had an investment capital of more than 1 million Thai Baht (ca. 31'000 USD) and were producing readymade garments, leatherwear, footwear, furniture or decorative items, textile products, toys, sports equipment, gems and jewelry, or lenses.
To avail these incentives an application must have been submitted until 31 December 2011.