This short-term special measure aims to accelerate investment in large projects and focuses on high-technology industries crucial to increasing the country’s competitiveness and development. Eligible projects include those that obtain basic incentive of 5-8 years of corporate income tax exemption (Activities in group A1, A2, A3). Download A Guide to the Board of Investment.

Criteria:

-Applicable to projects submitted from January 2, 2019 to December 30, 2020

- Applicable to companies that invest not less than 500 million baht by 2020 or not less than 1 billion baht by 2021, excluding cost of land and working capital

-Also applicable to those projects that has received incentives under “Thailand Investment Year package” or “Investment Acceleration Measure” under Thailand Plus package

Privileges:

-An additional 50% corporate income tax reduction for 5 years.

Conditions:

- No extension of the deadline for machinery importation

- A proof of actual investments must be submitted by June 2022

These measure aim at encouraging companies to provide training and apprenticeship programs as well as incentivizing corporates to establish professional training/educational institutions in science, technology and engineering (STEM). The details of these measures are as follows:

1. Training and apprenticeship support: Investment or expenses related to human resource development can be included in the calculation of corporate tax exemption ceiling, with no minimum threshold. Two categories of investment or expenses in HR development can benefit from these measures:

1.1 100% of the actual expenses related to apprenticeship programs such as Dual Education, Cooperative Education or Work-Integrated Learning programs will be included in the calculation of corporate income tax exemption.

1.2 200% of actual expenses related to providing employees with advanced STEM training, both in-house and external, will be included in the calculation of corporate income tax exemption given that these training courses must be endorsed by the Ministry of Higher Education, Science, Research and Innovation, or the Eastern Economic Corridor Office (in case of educational/training institutions located in EEC).

Applications for these additional incentives must be submitted by the year 2021 and before the end of the project’s corporate tax exemption period.

2. Measures to support private sector investment in the establishment of human resource development institutions. Corporates (parent companies) in any business not related to educational or training institutions, when investing in the establishment of STEM education or vocational training institutions endorsed by the Ministry of Higher Education, Science, Research and Innovation, will be eligible to receive a 5-year corporate tax exemption for 100% of the investment fund used for the establishment of the institution. As for the educational or training institutions, they will receive exemption of import duty on machinery. Applications must be submitted by the year 2021 and applicants must be engaged in the BOI eligible activities under the current investment promotion scheme.

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