Ready to Invest in Software Industry? Here are Its BOI Tax Benefits
If you are planning to make an investment in Thailand’s software industry, then it can prove to be a wise decision as this sector has been continuing to experience a strong growth. It is believed that sound government policies, high-tech infrastructure, and an ever-expanding labor force provide benefits to the companies for data center management and software development. The foreign investors are expected to be benefited from the competitive labor costs of Thailand, its educated workforce, highly suitable location and a domestic market with high growth potential.
Thailand BOI promotion for software business is granted to the following software development activities:
- Embedded software
- Software companies and digital content enterprises, which can be any one of the following:
- Computer-Generated Imagery (CGI)
- Visual effects
- Web-based applications and cloud computing
- Interactive Application
- Animation, cartoon & character
- Games including mobile platform, massive multi-player online games (MMOG), PDA, Windows-based and online games,
- E-learning content through broadband and multimedia
- Wireless location-based service content
- Multimedia application
Thailand BOI incentives to be granted are:
- 8-year CIT exemption without any cap on capital investment for embedded software businesses
- 5-year without any minimum capital requirement for software enterprise and digital content businesses
- Import duty exemption on machinery
- Exemption of import duty on raw or essential materials that is to be used for production of export items for a year
- 100% foreign ownership of the business
- Right to own land
- Right to bring foreign experts to Thailand
- Permitted to remit money abroad
You will be inspired to know that international companies like Thomson Reuters, employing almost 1,200 engineers appreciates and recognizes the benefits of doing business in Thailand. If you too want to be located in Thailand, give us a call, we will make the rest happen.
