Post by account_disabled on Dec 27, 2023 14:33:54 GMT -6
BOI board gives green light to 3 special measures to accelerate investment including large projects, SMEs, and support for the grassroots economy To stimulate economic expansion Ready to open a new type Promote electric trams for tourism and low-income housing. and approved the promotion of the business of producing tires for vehicles. Investment value of over 7,900 million baht Miss Duangjai Asawachintachit Secretary-General of the Board of Investment (BOI) revealed after a meeting of the Board of Investment or BOI Board chaired by General Prayut Chan-o-cha, Prime Minister, that in order to stimulate investment in the country quickly. The Board of Investment has approved three special measures to expedite investment in large investment projects. Promote investment by small and medium-sized enterprises to have easier access to BOI benefits. At the same time, measures to support the grassroots economy have been improved to attract entrepreneurs with higher potential to support more local enterprises. Measures to stimulate investment For the first measure Measures to stimulate investment for large projects in targeted industries and services that have a high impact on the national economy (business groups A1, A2, and A3, which are groups that receive corporate income tax exemptions for 5 - 8 years, but do not include businesses that do not have Set up an establishment such as an air transport business. Shipping business, etc.) which investors can invest in every area. They will receive income tax deduction benefits. juristic person, an additional 50 percent for a period of 5 years if there is actual investment (excluding cost of land and working capital) of not less than 500 million baht by 2020 or not less than 1,000 million baht by 2021. This measure is effective for applications for promotion submitted from 2 January 2019 to 30 December 2020. If stimulating investment is carried out according to this measure It is expected that it can help stimulate investment of more than 200,000 million baht in the period 2020 - 2021. Measures to promote small and medium-sized enterprises (SMEs) In terms of promoting SMEs, there are currently many agencies that provide support and promotion. Both in finance and credit
Personnel and knowledge development Including marketing and facilitation. In late 2019 and early 2020, the government approved additional financial measures and other support measures. As for the BOI's measures, it provides tax benefits. This will complement the support measures of other agencies. which at this meeting The BOI board agreed to improve measures to promote SMEs so that potential entrepreneurs can more easily access the benefits of the BOI. By specifying a new definition of SMEs to be consistent with the OSMEP's definition of SMEs that was revised at the beginning of 2020, that is, they are businesses that must have shares held by natural persons of Thai nationality not less than 51 percent and must Have income of both promoted and non-promoted businesses not exceeding 500 million baht per year WhatsApp Number List the first 3 years. In the case of setting up a business in an industrial estate or industrial zone Will receive benefits of exemption from corporate income tax. additional personnel for another year, while if located in a border economic development zone Will receive corporate income tax exemption benefits according to investment promotion measures in special economic development zones. By receiving a corporate income tax exemption amount of 200 percent of the investment (excluding the cost of land and working capital) as well. However, applications for promotion must be submitted from March 2, 2020 to the last business day of 2021. Improving measures to promote investment in the grassroots economy Miss Duangjai added that To encourage the private sector to participate in enhancing the competitiveness of the economy at the grassroots level. The BOI board therefore agreed to have Improving investment promotion measures to support the grassroots economy that the BOI has been open to promoting continuously since 2016 by improving the measures this time. This will extend the application period. The promotion is extended for another year, until December 30, 2021, and the scope of qualifications
applicants for promotion is expanded to be more comprehensive. This includes entrepreneurs who have an existing business that has not been promoted before. However, the business that is currently operating must be the type of business that the BOI currently promotes. In addition, there is an opportunity for projects that still have corporate income tax exemption benefits remaining or new investment projects that will receive corporate income tax exemption benefits. You can request additional benefits according to this measure. If there is investment or expenses to support the grassroots economy They will receive an additional corporate income tax exemption amount of 120 percent of the support money. and to encourage entrepreneurs to have more motivation The BOI board also provides opportunities for projects that receive investment promotion according to the grassroots economic measures. You can apply for benefits according to other measures as well. Improving the type of tourism business Businesses related to and supporting tourism It is an activity that the BOI promotes in various categories. in order to develop new tourist attractions that meets standards Including the creation of modern facilities. The BOI board considers that To stimulate investment in tourism infrastructure development Further raising the standard of tourism supporting activities. Therefore, it was agreed to improve the type of cable car business. and hotel business By type of cable car business The scope has been expanded to cover electric trams. for tourism as well and specify the conditions that must be
Personnel and knowledge development Including marketing and facilitation. In late 2019 and early 2020, the government approved additional financial measures and other support measures. As for the BOI's measures, it provides tax benefits. This will complement the support measures of other agencies. which at this meeting The BOI board agreed to improve measures to promote SMEs so that potential entrepreneurs can more easily access the benefits of the BOI. By specifying a new definition of SMEs to be consistent with the OSMEP's definition of SMEs that was revised at the beginning of 2020, that is, they are businesses that must have shares held by natural persons of Thai nationality not less than 51 percent and must Have income of both promoted and non-promoted businesses not exceeding 500 million baht per year WhatsApp Number List the first 3 years. In the case of setting up a business in an industrial estate or industrial zone Will receive benefits of exemption from corporate income tax. additional personnel for another year, while if located in a border economic development zone Will receive corporate income tax exemption benefits according to investment promotion measures in special economic development zones. By receiving a corporate income tax exemption amount of 200 percent of the investment (excluding the cost of land and working capital) as well. However, applications for promotion must be submitted from March 2, 2020 to the last business day of 2021. Improving measures to promote investment in the grassroots economy Miss Duangjai added that To encourage the private sector to participate in enhancing the competitiveness of the economy at the grassroots level. The BOI board therefore agreed to have Improving investment promotion measures to support the grassroots economy that the BOI has been open to promoting continuously since 2016 by improving the measures this time. This will extend the application period. The promotion is extended for another year, until December 30, 2021, and the scope of qualifications
applicants for promotion is expanded to be more comprehensive. This includes entrepreneurs who have an existing business that has not been promoted before. However, the business that is currently operating must be the type of business that the BOI currently promotes. In addition, there is an opportunity for projects that still have corporate income tax exemption benefits remaining or new investment projects that will receive corporate income tax exemption benefits. You can request additional benefits according to this measure. If there is investment or expenses to support the grassroots economy They will receive an additional corporate income tax exemption amount of 120 percent of the support money. and to encourage entrepreneurs to have more motivation The BOI board also provides opportunities for projects that receive investment promotion according to the grassroots economic measures. You can apply for benefits according to other measures as well. Improving the type of tourism business Businesses related to and supporting tourism It is an activity that the BOI promotes in various categories. in order to develop new tourist attractions that meets standards Including the creation of modern facilities. The BOI board considers that To stimulate investment in tourism infrastructure development Further raising the standard of tourism supporting activities. Therefore, it was agreed to improve the type of cable car business. and hotel business By type of cable car business The scope has been expanded to cover electric trams. for tourism as well and specify the conditions that must be