National incentives

摘要

Thailand grants incentives under the Investment Promotion Act of 1977, the National Competitive Enhancement Act for Targeted Industries of 2017 and the Eastern Economic Corridor (EEC) Act of 2018. Applications for incentives under these laws may be made with the Board of Investment (BoI). Thailand's current investment policy (2015-21) promotes the following: productivity enhancement (including upgrading of small and medium-sized enterprises); technology and innovation; human capital; and the development of specific territories such as the EEC, border special economic zones and disadvantaged regions. Under the Investment Promotion Act, the BoI offers two kinds of promotional privileges: "activity-based incentives" and "merit-based incentives". The activity-based incentives offer corporate income tax exemptions of up to 13 years, depending on the level of technology used, the place in the supply chain, the level of previous investments in the country and the value added. All approved projects qualify for import-duty exemption on machinery and raw materials as well as nontax incentives (such as work permits for expatriates, guarantees, approvals and other protections).