This post is about BOI promotion for digital services business in Thailand, which is classified as one of special importance and benefit to the country. Thailand Board of Investment (BOI) grants the promoted digital service companies a corporate income tax exemption and other incentives.
Digital services includes areas like software platform, managed service, digital architecture design service and digital services such as Fintech, Digtech, Medtech, Agritech etc.
1. Projects must hire digital specialists and have capital investment (excluding cost of land and working capital) not less than 1,000,000 Baht.
2. Projects must include digital service processes as approved by the board.
3. Projects with an investment of 10 million baht or more (excluding cost of land and working capital) must be certified with ISO 20000 or other quality standard certificate as approved by the Ministry of Information and Communication Technology within 2 years from the full operation start-up date, otherwise the corporate income tax exemption shall be reduced by 1 year.
4. Revenue derived from sales or the provision of services that are directly related to a promoted digital service business shall be regarded as revenue of such promoted business.
5. Projects must gain approval from the Ministry of Information and Communication Technology before applying for investment promotion.
• 5-year Corporate Income Tax exemption + merit based incentives
• Exemption of import duties on machinery
• Exemption of import duties on raw materials for use in production for export
• Non-tax incentives