Incentives by the Board of Investment Thailand
Under the Investment Promotion Act B.E. 2520, the Board of Investment is authorized to grant the following incentives, guarantees and protection.
- Exemption/reduction of import duties on machinery. (Sections 28/29)
- Reduction of import duties for raw or essential materials. (Section 30)
- Exemption of juristic person’s income tax and dividends. (Sections 31/34)
- A 50 percent reduction of the juristic person’s income tax. (Section 35 (1))
- Double deductions from the costs of transportation, electricity and water supply. (Section 35 (2))
- Additional 25 percent deduction of the cost of installation or construction of facilities. (Section 35 (3))
- Exemption of import duty on raw or essential materials for use in production for export. (Section 36)
- Permit for foreign nationals to enter the Kingdom for the purpose of studying investment opportunities (Section 24)
- Permit to bring into the Kingdom skilled workers and experts to work in investment promoted activities. (Section 25/26)
- Permit to own land. (Section 27)
- Permit to take out or remit money abroad in foreign currency. (Section 37)
- The State will not nationalize the activity of the promoted person. (Section 43)
- The State will not undertake a new activity in competition with the promoted person’s (Section 44)
- The State will not monopolize the sale of products similar to the promoted person’s. (Section 45)
- The State will not impose price controls on the products of the promoted person’s. (Section 46)
- The State will grant permission to export at all times. (Section 47)
- The State will not allow any government agency, government organization or state (Section 48)
- enterprise to import any kind of the product being produced by the promoted person
- into the Kingdom by granting import duty exemption.
|Dream of living with your toes in the sand and seashells in your hand? Take a virtual look into what you can expect when visiting or living on a Caribbean Island off the coast of Belize. Grab a fruity drink and join us as we introduce you to the expat and adventure tourist lifestyle that awaits you on Ambergris Caye through the lens of those who have done it! Register for the live event taking place October 26th @ 5 pm ET.|
- To charge extra import fees into the Kingdom on products similar to those produced by the promoted person at a rate not exceeding 50 percent of the price of overseas insurance and freight charges, effective for a period of not more than one year. (Section 49)
- In the case of where the Board is of the opinion that Section 49 is inadequate for protecting the activity of the promoted person. It will increase the measure by banning the import of products similar to the local productions. (Section 50)
- In the case where the promoted person encounters any problem or obstacles in the course of carrying out the promoted activity, the Chairman will have the power to render any appropriate assistance. (Section 51)
I’ve included some great articles for you to read, enjoy!
Like Our Articles?
Then make sure to check out our Bookstore... we have titles packed full of premium offshore intel. Instant Download - Print off for your private library before the government demands we take these down!