The government has policies in place to encourage trade and investment in a variety of ways, including assisting in the establishment of International Business Centers (IBC) to provide management services, technical services, support services, or financial management services to affiliated enterprises.
The Revenue Department announced tax benefits for IBC companies in Thailand, replacing tax incentives for the establishment of international headquarters (IHQ), international trading companies (ITC), and regional operating headquarters (ROH). Companies established as IHQ, ITC, or ROH can be converted to IBC.
Thai or multinational companies forming an IBC can take advantage of Thailand’s strengths as a gateway to ASEAN countries, particularly those bordering Thailand, to provide R&D support services, as well as marketing and sales promotion.
In addition to tax advantages, an IBC may apply for investment promotion from the Board of Investment (BOI), based on the nature and circumstances of the business.
Consequently, in order to encourage large companies to do more business in Thailand, it also creates jobs, new careers, and money to flow in the economy.
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