The following activities which are eligible for Thailand BOI promotion shall be granted both tax and non tax incentives if they are located in either Chonburi or Rayong according to the new Thailand BOI cluster policy.
- Eco-friendly Chemicals or Polymers; or Products Made from Eco-friendly Polymers
- Specialty Polymers or Specialty Chemicals
- Bioplastic-coated Paper Packaging
Thailand BOI grants the following special benefits to the promoted activities:
- 8-year corporate income tax exemption and an additional 5-year 50% tax reduction
- Import duty exemption on machinery
- Consideration of granting Permanent Residence to the leading specialist
- Permission for foreigners to own land to implement the promoted activities
The business of manufacture of eco-friendly chemicals or polymers or manufacture of products from eco-friendly chemicals or polymers that is incorporated within the same project as the manufacture of eco-friendly chemicals or polymers, to be approved by the BOI, must have the following conditions:
- The chemicals or polymers need to have less overall impact, assessed throughout their life cycles, on the environment. These products must be certified or can be proved to use raw materials from renewable resources, or use sustainable green chemistry in the production process, or they must be products that are biodegradable, and do not generate toxic substances.
- It must be assessed with an internationally-accepted standard such as Life Cycle Assessments (LCA) etc. before the full operation start-up date.
The above business, if not located in Chonburi or Rayong, normally will be granted the following Thailand BOI benefits:
- 8 year corporate income tax exemption, not more than 100% of investment (excluding cost of land and working capital)
- Exemption of import duty on machinery
- Exemption of import duty on raw or essential materials used in manufacturing export products for 1 year, which can be extended as deemed appropriate by the Board of Investment
- Other non-tax incentives