Subsequent to the Announcement of the Board of Investment No. 2/ 2557 dated December 3, 2014 on Investment Promotion Policies and Criteria;

In order to promote investment in the targeted activities in the Eastern Economic Corridor (EEC) and to encourage the private sector to take part in human resource development, and by virtue of Section 16, Section 18, Section 31, Section 31/1, and Section 35 of the Investment Promotion Act B.E. 2520 (1977), the Board of Investment hereby announces the followings.

1. The following areas in the Eastern Economic Corridor (EEC) which covers Chachoengsao, Chonburi and Rayong shall be the investment promotion zones.

2. The-Targeted activities in the Eastern Economic Corridor (EEC) shall be as follows:

2.1 Activities in Group A1, A2, and A3

2.2 Activities in Section 8: Technology and Innovation Development

2.3 The following activities support the targeted technology development in Section 8.

- Activity 5.6 Electronics design

- Activity 7.11 Research and development

- Activity 7.13 Engineering design

- Activity 7.14 Scientific laboratories

- Activity 7.15 Calibration services

- Activity 7.19.1 Vocational training centers

There is an exception to the activities with specific policies that shall not be entitled to the incentives under this measure as stipulated by the Office, e.g. the activities having no permanent location, and the activities having mandatory conditions on the permanent location which is not situated in Chachoengsao, Chonburi, and Rayong, etc.

3. Rights and incentives, and conditions for the targeted activities under Item 2 shall be as follows:

3.1 In case of human resource development

Incentives

(1) The activities in Group Al, A2, and A3 shall be entitled to 50 percent deduction from the normal rate of corporate income tax on the net profits derived from the investment for a period of 3 years from the expiry date of corporate income tax exemption period.

(2) The activities in Section 8: Target Technology Development, and the activities supporting the target technology development in Section 8 under Item 2.3 shall be entitled to 2 additional years of corporate income tax exemption.

Conditions

Must collaborate with educational institution in the specified forms including the Work-integrated Learning (WiL), cooperative education and dual vocational training program, or collaboration in developing Thai personnel in science and technology as approved by the Board of Investment. The collaboration plan of student or university student admission to vocational training shall be submitted, and the number of students or university students admitted to vocational training shall not be less than 10 percent of the total number of employees in the projects applying for investment promotion or shall not be less than 40 persons, whichever is lower.

3.2 In case projects are located in the areas under Item 3.2.1 and 3.2.2 , they shall be entitled to one or the other of additional rights and incentives as follows:

3.2.1 In case projects are located in the promoted zone for special activities in the Eastern Economic Corridor (EEC) as follows:

- Eastern Airport City or EEC-A

- Eastern Economic Corridor of Innovation or EECi

- Digital Park Thailand or EECd

- Thammasat Integrated Medical Innovation Center (Pattaya) or (EECmd)

- The genomics promotion zone, Burapha University (Bang Saen)

Incentives

(1) The activities in Group A1, A2, and A3 shall be entitled to 50 percent deduction from the normal rate of corporate income tax on the net profits derived from the investment for a period of 2 years from the expiry date of corporate income tax exemption period.

(2) The activities in Section 8: Target Technology Development, and the activities supporting the target technology development in Section 8 shall be entitled to 1 additional year of corporate income tax exemption.

3.2.2 In case projects are located in the industrial estate or promoted industrial Zone in the areas of Chachoengsao, Chon Buri, and Rayong:

Incentives

They shall be entitled to 1 additional year of corporate income tax exemption pursuant to the criteria stipulated in the Announcement of the Board of Investment No. 2/2557 dated December 3. 2014.

3.3 Projects that operate in compliance with the criteria and conditions under Item 3.1 and 3.2 shall be entitled concurrently to additional rights and incentives of corporate income tax.

4. A respite shall be provided to the location of projects investing in the target activities pursuant to the investment promotion measures in the Eastern Economic Corridor (EEC) that request additional rights and incentives in the case that projects are located in the Eastern Economic Corridor of Innovation (EECi). Projects shall be located in the science park which is approved by the Board of Investment to be the science and technology zone. In this regard, the projects shall move to locate in the Eastern Economic Corridor of Innovation (EECi) by December 30, 2022.

5. In case any projects are granted the rights and incentives of over 8 years corporate income tax exemption, they shall not be granted any additional rights and incentives of corporate income tax exemption pursuant to Section 35 (1).

6. This measure shall be effective for the application for investment promotion submitted from January 2, 2020 to the last working day of the year 2021, except for the rights and incentives for 4 location areas in the promotion zone for special activities including EECi, EECd, EECa, and EECmd that can submit the application for investment promotion under this measure with no ending period of application submission.

This Announcement shall be effective from December 18, 2019 onward.

On 21 December 2020, the board granted Genomics Thailand project located at Burapha University in the Eastern Economic Corridor (EEC) the similar status as EECi, EECd, EECa and EECmd, which are dedicated to specific targeted industries. Investments in these areas will be entitled to additional tax incentives from the Board of Investment. For further inquiries https://www.boi.go.th/index.php?page=press_releases_detail&topic_id=127308.

Read More : Announcement of the Board of Investment No. 17/2565