There are many types of agriculture activities granted Thailand BOI promotion. This post, we will look through the conditions and benefits of BOI for animal propagation or animal husbandry which is one of the activities eligible for promotion. The promoted companies can obtain corporate income tax exemption and non-tax incentives.
Conditions
A. Livestock and aquatic animal propagation
• Projects must use modern technology, e.g. closed house system, evaporative cooling system, automatic watering and feeding system, vector control measure and system, sensor system for tracking and counting animals.
• Projects must have traceability system.
• Hatching eggs without breeder raising process shall not be promoted.
B. Livestock husbandry or aquaculture (except for shrimp)
• Projects must have propagation process.
• Projects must use modern technology, e.g. closed house system, evaporative cooling system, automatic watering and feeding system, vector control measure and system, sensor system for tracking and counting animals and effective system for protect and reduce an environmental impact to animals.
• Projects must have traceability system.
BOI Incentives
1. 3-year corporate income tax exemption, accounting for 100% of investment (excluding cost of land and working capital)
2. Exemption of import duty on machinery
3. Exemption of import duty on raw or essential materials used in manufacturing export products for 1 year, which can be extended as deemed it appropriate by the Board
4. Other non-tax incentives
4.1 Permit to bring into the Kingdom skilled workers and experts to work in investment promoted activities.
4.2 Permit to own land.
4.3 Permit to take out or remit money abroad in foreign currency.
For information about Thailand BOI process, contact Thailawyers.