ANNOUNCEMENT 14 Sep 2009In September 2009, the government of Thailand announced a targeted tax change.
NUMBER OF INTERVENTIONS
On 14 September 2009, the Board of Investment Thailand published Announcement No. 12/2552 providing incentives for investments with immediate effect.
To achieve targets set for the Thailand Investment Year 2008-09, the following business areas will receive additional incentives:
The incentives include import duty exemption on machinery, corporate income tax and other tax deductions and are available to all applications made until 31 December 2009.
Further, to aid this measure, all areas in Thailand except Bangkok have been declared as Investment Promotion Zones until the end of the application period.
The GTA includes state guarantees and other financial incentives thatare likely to affect the restructuring and performance of firms facinginternational competition, whether from imports, in export markets, andfrom foreign subsidiaries.