BANGKOK(NNT) – The Board of Investment of Thailand (BOI) has approved measures to promote investment in the Eastern Economic Corridor (EEC) by expanding the number of target industries and increasing corporate income tax benefits.

A meeting of the BOI, chaired by Prime Minister and Defense Minister, Gen. Prayut Chan-o-cha, approved the measures to attract more investors to the EEC.

The first measure is to expand target industries and businesses in the EEC, such as industries in the advanced technological development and supporting industries.

The second measure is to increase corporate income tax benefits, which cover human resource development and location. Companies in the A1, A2 and A3 business categories will be entitled to a 50% reduction in corporate income tax for three more years, while technological industries and businesses will 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 Thammasat University, Pattaya Campus, will receive a 50% reduction in corporate income tax for two more more years.

Targeted sectors in technological development located 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 for registration.

The BOI meeting also approved measures to support small and medium-sized enterprises (SMEs). The meeting agreed that both the government and the private sector have to adjust their investment promotion measures to cover all aspects of the agricultural sector and the tourism industry. The measures are to be extended until February next year.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

The Bank of Thailand Bond Issuance Programme for 2022

For 2022, the BOT bond issuance programme continues to take into account the increased financing needs of the government to fund Covid-19 relief measures

SET market report for March 2022

SET Index in the first quarter of 2022 was driven by industry groups which benefit from the country reopening, as such Services, Technology and Resources industry groups rose at a faster pace than the SET Index at end-2021.

Bangkok Moves Up to 6th in Global Ranking of Convention Cities

The top 10 convention cities for 2021 are Paris, New York, Singapore, Beijing, Tokyo, Bangkok, London, Barcelona, Istanbul, and Washington. In Asia-Pacific, the top 10 are Singapore,