Illustrative image (Photo: Internet) Bangkok (NNT/VNA) - The Board of Investment of Thailand (BOI) hasapproved measures to promote investment in the Eastern Economic Corridor (EEC)by expanding the number of target industries and increasing corporate incometax benefits.
A recent meeting of the BOI, chaired by Prime Minister and Defense Minister,Gen. Prayut Chan-o-cha, approved the measures to attract more investors to theEEC. The first measure is to expand target industries and businesses in theEEC, such as industries in the advanced technological development andsupporting industries.
The second measure is to increase corporate income tax benefits, which coverhuman resource development and location. Companies in the A1, A2 and A3business categories will be entitled to a 50 percent reduction in corporateincome tax for three more years, while technological industries and businesseswill enjoy corporate income tax exemption for two additional years.
Companies located in the EEC’s Innovation Zone, Industrial Promotional Zone,Digital Innovation Zone, Eastern Aviation City and the EECmd in ThammasatUniversity, Pattaya Campus, will receive a 50 percent reduction in corporateincome tax for two more years. Targeted sectors in technological developmentlocated in the EEC will enjoy corporate income tax exemptions for another year.
The measures will be in effect from January 2, 2020, to December 2021.Applicants can sign up for the new privileges, with no deadline set forregistration.
The BOI meeting also approved measures to support small and medium-sizedenterprises (SMEs). The meeting agreed that both the government and the privatesector have to adjust their investment promotion measures to cover all aspectsof the agricultural sector and the tourism industry. The measures are to beextended until February next year./.
A recent meeting of the BOI, chaired by Prime Minister and Defense Minister,Gen. Prayut Chan-o-cha, approved the measures to attract more investors to theEEC. The first measure is to expand target industries and businesses in theEEC, such as industries in the advanced technological development andsupporting industries.
The second measure is to increase corporate income tax benefits, which coverhuman resource development and location. Companies in the A1, A2 and A3business categories will be entitled to a 50 percent reduction in corporateincome tax for three more years, while technological industries and businesseswill enjoy corporate income tax exemption for two additional years.
Companies located in the EEC’s Innovation Zone, Industrial Promotional Zone,Digital Innovation Zone, Eastern Aviation City and the EECmd in ThammasatUniversity, Pattaya Campus, will receive a 50 percent reduction in corporateincome tax for two more years. Targeted sectors in technological developmentlocated in the EEC will enjoy corporate income tax exemptions for another year.
The measures will be in effect from January 2, 2020, to December 2021.Applicants can sign up for the new privileges, with no deadline set forregistration.
The BOI meeting also approved measures to support small and medium-sizedenterprises (SMEs). The meeting agreed that both the government and the privatesector have to adjust their investment promotion measures to cover all aspectsof the agricultural sector and the tourism industry. The measures are to beextended until February next year./.
VNA
