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BOI Announces Measures to Facilitate Investors Affected by COVID-19 Situation

The Thailand Board of Investment (BOI) said in a statement that it remains as committed as ever to serve the needs of investors, and announced practical measures to ensure the continuity of service to support companies

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The Thailand Board of Investment (BOI) said in a statement that it remains as committed as ever to serve the needs of investors, and announced practical measures to ensure the continuity of service to support companies as economic activity in this critical period is affected by the spread of the coronavirus disease 2019 (COVID-19) and the Emergency Decree put in place by the government to control the situation.

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“The BOI, as always, is there to help in any way it can,” Duangjai Asawachintachit, Secretary General, Thailand Board of Investment (BOI), said in the statement addressed to executives of both local and international companies invested in Thailand.

Measures taken by the BOI to facilitate companies during this period include the following:

– In accordance with the announcement by the Ministry of Finance to postpone corporate income tax submission for the 2019 accounting year (Por.Ngor.Dor.50) to 31 August 2020, the BOI has extended the application deadline for corporate income tax exemption privileges to 31 July 2020, or not less than 30 days before the corporate income tax filing date.

– To ensure continued support to investors, we have launched an online document submission service (e-submission) since March 30, 2020 apart from our existing e-services (such as e-investment for applications, e-tax for corporate income tax exemption authorization, and e-land for land ownership approval).

Please visit our website for e-submission (https://doc.boi.go.th/). This new service, in line with the government policies to encourage people to work from home, ensures that companies can still receive services from us as usual.

– Both the Head Office of the BOI, at 555 Vibhavadi-Rangsit Road, and the One Start One Stop Investment Center (OSOS), located on the 18th Floor, Chamchuri Square Building, Rama IV Road, Bangkok, stay open during normal office hours, although with a reduced personnel.

– Also, the BOI is now offering online meeting services to answer queries from investors.

These measures aim to comply with the rules established under the Emergency Decree, issued by the Thai Government since March 26, and the recommended social distancing, the statement said.

“Whether they are at the office or working from home, all BOI executives and staff stay fully engaged,” Duangjai said in the statement.

For more information, please contact:
Thailand Board of Investment
Tel. +66 (0) 2553 8111
Website: www.boi.go.th

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50:50 campaign may not get immediate extension

National News Bureau of Thailand

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BANGKOK (NNT) – The government’s 50:50 co-pay campaign expiring on 31st March may not be getting an immediate campaign extension. The Minister of Finance says campaign evaluation is needed to improve future campaigns.

The Minister of Finance Arkhom Termpittayapaisith today announced the government may not be able to reach a conclusion on the extension of the 50:50 co-pay campaign in time for the current 31st March campaign end date, as evaluations are needed to better improve the campaign.

Originally introduced last year, the 50:50 campaign is a financial aid campaign for people impacted by the COVID-19 pandemic, in which the government subsidizes up to half the price of purchases at participating stores, with a daily cap on the subsidy amount of 150 baht, and a 3,500 baht per person subsidy limit over the entire campaign.

The campaign has already been extended once, with the current end date set for 31st March.

The Finance Minister said that payout campaigns for the general public are still valid in this period, allowing time for the 50:50 campaign to be assessed, and to address reports of fraud at some participating stores.

The Fiscal Police Office Director General and the Ministry of Finance Spokesperson Kulaya Tantitemit, said today that a bigger quota could be offered in Phase 3 of the 50:50 campaign beyond the 15 million people enrolled in the first two phases, while existing participants will need to confirm their identity if they want to participate in Phase 3, without the need to fill out the registration form.

Mrs Kulaya said the campaign will still be funded by emergency loan credit allocated for pandemic compensation, which still has about 200 billion baht available as of today.

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Customs Department Considers Measures to Help SMEs

National News Bureau of Thailand

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BANGKOK (NNT) – The Customs Department is seeking ways to reduce the impact of the exemption on import tax and value-added tax (VAT) for imported goods worth up to 1,500 baht, as such measures are hurting small and medium-sized enterprises (SMEs).

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