Investment Promotion Act (NO.3), B.E. 2544 (2001).
Country
Type of law
Legislation
Date of original text
Date of latest amendment
Abstract
The Investment Promotion Act was enacted to stimulate investment in Thailand.
A board of investment (BOI) shall be established. The Act empowers the Board of Investment (BOI) of Thailand to grant tax and non-tax incentives for both foreign and Thai investors who engage in any types of promoted business activities as designated in BOI announcements. Activities that the BOI designate for promotion are those which are “important and beneficial to the economic and social development, and security of the country, activities which involve production for export, activities which have high content of capital, labour or service or activities which utilise agricultural produce or natural resources as raw materials, provided that in the opinion of the Board, they are non-existent in the Kingdom, or existent but inadequate, or use out-of-date production processes.”
The Act further makes provisions for tax incentives and non-tax incentives measures, including import duty exemptions for BOI-approved machinery specifically used for R&D, corporate income tax exemptions for a period not exceeding 13 years for projects using high-end technology, advanced innovation or R&D, capability to deduct the amount spent on a promoted project from net profits, not exceeding 90 percent of actual investment.
A board of investment (BOI) shall be established. The Act empowers the Board of Investment (BOI) of Thailand to grant tax and non-tax incentives for both foreign and Thai investors who engage in any types of promoted business activities as designated in BOI announcements. Activities that the BOI designate for promotion are those which are “important and beneficial to the economic and social development, and security of the country, activities which involve production for export, activities which have high content of capital, labour or service or activities which utilise agricultural produce or natural resources as raw materials, provided that in the opinion of the Board, they are non-existent in the Kingdom, or existent but inadequate, or use out-of-date production processes.”
The Act further makes provisions for tax incentives and non-tax incentives measures, including import duty exemptions for BOI-approved machinery specifically used for R&D, corporate income tax exemptions for a period not exceeding 13 years for projects using high-end technology, advanced innovation or R&D, capability to deduct the amount spent on a promoted project from net profits, not exceeding 90 percent of actual investment.
Attached files
Web site
Repealed
No
Source language
English
Legislation Amendment
No