BOI privileges for existing manufacturing business foreign investors should know for business expansion

       The BOI gave the green light to nine new measures to attract investment, as part of Thailand’s move to create a new economy, in the fourth quarter of 2022. One of the outstanding measures is the retention and expansion program, as well as the relocation program, which will promote Thailand’s standing as a key base for new industries and international businesses: 

1. Group A1+, eligible for 10-13 years of corporate income tax exemption, will receive an additional 3 years of corporate income tax exemption, not exceeding 13 years in total;
2. Groups A1 and A2, eligible for 8 years of corporate income tax exemption, will receive a 50% corporate income tax reduction for up to 5 years;  
3. Groups B, A3, and A4, eligible for 0-5 years corporate income tax exemption, will receive an additional 3 years of corporate income tax exemption. 

However, the retention and expansion program is provided for the following cases: 

1. Long-standing investors, meaning companies which over the past 15 years (2008-2022) have been granted investment benefits for at least 3 projects, with a combined investment value of not less than 10,000 million baht;
2. A new project or expansion project with an investment of 500 million baht. 

       Persons interested may submit an application to BOI within this year; more details can be found at www.boi.go.th. 

Source : Thailand Board of Investment 555
Tel : +66 2553 8111