The Thai Board of Investment promotes electronic design activity. Under activity no. 4.1, electronic design such as microelectronics, optoelectronics or embedded system. To be eligible for this promotion, the project must meet the following conditions:
- The project must have expenses on salaries for electronics design personnel of at least THB 1,500,000 per year and it must be new employment, or must have capital investment of at least THB 1,000,000 which must not include the cost of land, working capital and vehicles
- To utilize the benefits of corporate income tax exemption from the sale of products or services which are directly related to the promoted activity, the company must provide either one of the following evidences:
- Patents for products or services which are directly related to the promoted business
- Letters from the National Science and Technology Development Agency or relevant institutions for each product or service, which certify that the products or services are electronic designs of the promoted project
Once granted with promotion, the company can get these incentives:-
- Full exemption of corporate income tax on profits generated by the promoted project for 8 years, without any limit on the amount
- Exemption of import duties on machinery
- Exemption of import duties on raw materials used in R&D
- Exemption of import duties on raw materials used in production for export
- Non-tax incentives such as:
- Eligibility to own land
- Permit to bring skilled workers and experts into the Kingdom to work in the promoted project
- Less restriction in applying for work permits & visas for foreign employees
- Permit to withdraw or remit money overseas in foreign currency
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