ANNOUNCEMENT 15 Oct 2009In October 2009, the government of Thailand announced a targeted tax change.
NUMBER OF INTERVENTIONS
On 15 October 2009, the Thailand Board of Investment published via Announcement No. 10/2552 an updated list of activities that will be eligible for incentives under the Investment Promotion Act B.E. 2520. The new list replaces the earlier list announced on 1 August 2000 through Announcement No. 1/2543.
The scope of the incentives has not significantly changed. However, several activities have been added/removed and the conditions for availing the incentives have been amended.
The major incentives under the Act are exemption from import duty on machinery and corporate income tax exemptions. Additional tax deductions, duty exemptions on raw materials etc. may apply depending on the investment zones.
The measure applies to all applications submitted for incentives until 14 September 2009.