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,…

Read the complete story here

About the author

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.

Leave a Reply

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Thailand touts ‘innovation hub’ aim

The move is also part of its plan to raise Thailand’s position in the Global Innovation Index from 43rd in 2021 and ensure Bangkok appears in the top 50 best cities for startups as the capital was ranked in 71st place in the Global Startup Ecosystem Index 2021. 

Online shopping cyber complaints jump 50% in 2021

Over 48,500 cyber complaints have been filed with the Ministry of Digital Economy and Society over the past 11 months, with some 33,000 of these complaints related to online shopping, up 50% from the same period in 2020.

Bringing Thailand into the next age of industry

During the ongoing pandemic, digital twins were also used to improve vaccine production efficiency and safety, while doing the same for personal protective equipment manufacturing. In the automotive sector, vehicle manufacturers can use digital twins to simulate car models and assembly line processes for maximum efficiency.