The Thai government with the Board of Investment in Thailand has released a policy statement that highlights the nation’s plan to expand the support of the technology industry, which includes science, development and innovation and research and development.
So, what does the approved digital technology in Thailand involve?
- Big Data Analytics Technology
- Decentralized Sequential Transaction Database
- Human Computer Interaction Technology/Brain Computer Interface
- Internet of Things Technology
- Natural Language Processing Technology
- Virtual & Augmented Reality Technology
- Digital Engineering and Manufacturing Technology
- Software Testing Technology
- Embedded Technology
- Smart Grid
- Wearable Technology
- Artificial Intelligence Technology
- Sensor Technology
- Automation Technology
- Robotics Technology
If you have been thinking to invest in Thailand’s IT industry, here’s your opportunity. You must utilize this opportunity right away. Besides, the BOI Thailand is offering incentives to the expats who are looking to invest in the IT sector. Let’s
- “Capital Income Tax (CIT) 8 years of CIT (without cap) exemptions on the net profit and dividends derived from the promoted activity;
- Merit Based Incentives entitled;
- Exemption/reduction of import duties on machinery;
- Reduction of import duties for raw or essential materials;
- Exemption of import duties on materials imported for R&D purposes;
- Exemption of corporate income tax on net profit and dividends derived from the promoted high technology and innovation activity;
- A 50 percent reduction of the corporate income tax;
- Double deduction from the costs of transportation, electricity and water supply;
- Additional 25 percent deduction of the cost of installation or construction of facilities;
- Exemption of import duty on raw or essential materials imported for use in production for export;”
As Thailand is constantly adapting to the changing global economy that is driven by knowledge and innovation, investing in its future can earn you a lot of benefits.
