THAILAND – New Investment Stimulus for 2021

Published On - 5 février, 2021

Albert Hui Thailand

The Board of Investment (BOI) recently approved a set of new measures to boost investments in the country in 2021 as follows:

  • For any project using high-technology and worth at least THB 1 billion, companies shall be eligible to an additional 50% corporate income tax reduction for up to 5 years on top of the tax exemption period usually granted. The promotion is valid until the last business day of 2021.
  • The BOI also approved a 2-year extension (2021-2022) of BOI incentives granted to new projects located in special economic zones (SEZ) and in the following southern provinces: Narathiwat, Yala, Pattani, Satun, and four districts in Songkhla. SEZ include the following provinces: Chiang Rai, Kanchanaburi, Mukdahan, Nakhon Phanom, Narathiwat, Nong Khai, Sa Kaeo, Songkhla, Tak and Trat. The promotion is valid until the last business day of 2022.
  • Establishment of a new special economic zone of Genomics at Burapha University following a proposal by the EEC office. Investment projects shall be given the same incentives as those given to the aviation city in EEC, EEC of digital (EECd) and EEC of innovation (EECi).
  • Expansion projects consisting in implementation of digital technology shall receive a corporate tax reduction equal to 50% of the total investment for 3 years. The promotion is valid until the last business day of 2022.