Investment promotion laws are what that keep Thailand ahead in the competition with ASEAN Economic Community. The Investment Promotion in Thailand Act of B.E. 2520 gives the right to the Board of Investment to offer both tax and non-tax incentives to expats as well as Thai investors.
Were you not aware of this before? Well, you are then just at the right place. The following is explains the BOI incentives under investment promotion act;
- Exemption or reduction of import duties on machinery
- Reduction on the import duties for essential materials
- Exemption of corporate income tax on the dividends as well as the net profit derived from promoted activity
- 50% reduction in the corporate income tax
- Costs of electricity, water supply, and transportation will be reduced greatly, almost double reduction.
- 25% deduction on the price of installation and/or construction of the facilities.
- Exemption from the import duty on materials imported for production of export.
The non-tax facilities include;
- Entry to Thailand to study investment opportunities
- Immigration of skilled workers or experts to the kingdom for work
- Permission to own a land
- Permission to remit money in foreign currency
In order to enjoy these benefits, you must obtain a BOI registered company. These privileges will let you lessen the risk attached to the investment while at the same time improving the rate of return. If your business is to add some economic advantage to the country, then you can be eligible to register a BOI promoted company. But then yes, the process can be little complicated, especially for an expat who doesn’t have much idea about the Thailand law. If you want to start a BOI company in Thailand, we can help you establish one. Write to us or give us a call as soon as possible.
