BOI to offer incentives to investors in flood-hit industrial estates

The Board of Investment (BOI) is preparing to launch special tax incentives to persuade more investors to set up or expand their businesses in flood-affected industrial estates in Pathum Thani and Ayutthaya provinces.

BOI Secretary-General Atchaka Sibunruang revealed that a tax incentive package will soon become available to new investment projects within industrial parks located in Pathum Thani and Ayutthaya, where severe flooding occurred late last year. Besides new investors, those looking to expand their existing factories in the areas will also be eligible for the tax privileges.

Ms Atchaka said the special tax offer is aimed to restore and promote the industrial activities of the two provinces after they were brought to a standstill by the floods. Investors wishing to receive the privileges must submit their applications by the end of this year.

The tax incentives include the exemption of corporate income tax for 8 years. The maximum value of tax exemption is set at 150% of the investment capital. For those investing in Ayutthaya, after the 8-year period, they will be entitled to corporate income tax reduction by 50% for another 3 years.