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Thai Government waives tax for venture capital firms; sets up 500-million Baht fund for start-ups

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In continuation of the Thai government’s efforts at promoting the country’s digital economy, the Thai government has recently announced the waiving of dividend and income taxes for VC firms for up to 10 years, to encourage investments into businesses and start-ups operating within the 10 supported industries, according to a report published by Thairath on May 5th, 2016.

This tax break will also apply to individuals who contribute to the partnered VC funds, and will be eligible for new businesses and start-ups established between the 1st of October to the 31st of December this year, said Deputy Minister of Finance Wisuth Srisuphan.   

Furthermore, the Ministry of Science and Technology – in partnership with various venture capital firms – has recently agreed to the establishment of a 500-million baht ‘fund-of-funds’ aimed at investing in tech start-ups operating within the supported industries.

The government’s list of supported industries include: next-generation cars, smart-electronics; affluent, medical and wellness tourism; agriculture and biotechnology; food; robotics for industry; logistics and aviation; biofuels and biochemicals; digital; and medical services. (Source: “Tax Break for Start-up Funds” – Bangkok Post,…

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Techsauce is the partnership of two titans in the Thai technology startup industry between Thumbsup, the leading technology media in Thailand and HUBBA, the biggest coworking space network in Thailand.

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Global fashion e-tailer Shein launches new hub in Singapore

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Shein has websites for Singapore, Indonesia, Thailand, Vietnam, and the Philippines and has plans to create a standalone website for Malaysia too.

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Myanmar

Digital Revolution and Repression in Myanmar and Thailand

Activists have also proactively published social media content in multiple languages using the hashtags #WhatsHappeningInMyanmar and #WhatsHappeningInThailand to boost coverage of events on the ground.

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By Karen Lee

Following the February 1 coup, Myanmar’s netizens became the latest to join the #MilkTeaAlliance, an online collective of pro-democracy youth across Asia.

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