Thailand BOI grants certain privileges to the promoted companies in each investment promotion zones. Today, we summarize the tax incentives granted to the projects in Zone 2 which includes Angthong, Ayutthaya, Chachoengsao, Chonburi, Kanchanaburi, Nakhon Nayok, Phuket, Ratchaburi, Rayong, Samut Songkram, Saraburi and Suphanburi.
Such tax incentives for Zone 2 are as follows:
– Exemption of import duties on machinery for those located inside industrial estates or promoted industrial zones excluding Laem Chabang Industrial Estate and industrial estates or promoted industrial zones in Rayong province. Application must be submitted by 31 December 2014.
– 50% reduction of import duties on machinery for both inside and outside industrial estates or promoted industrial zones
– Corporate income tax exemption for 7 years for projects located within industrial estates or promoted industrial zones excluding Laem Chabang Industrial Estate and industrial estates or promoted industrial zones in Rayong province. Application must be submitted by 31 December 2014.
– Corporate income tax exemption for 3 years for projects located outside the industrial estates or promoted industrial zones
– Exemption of import duties on raw or essential materials used in manufacturing of export products for projects located within and outside industrial estate or promoted industrial zones except those in Laem Chabang Industrial Estate and industrial estates or promoted industrial zones in Rayong province.
The tax incentives for projects in Zone 3 are summarized in the next article.
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