New tax incentives for industry and automation in Thailand

12/10/2022 By gifsauce 543 Views

(Partner content) The Thailand Board of Investment approved new tax incentives on October 11, 2021 to encourage companies to invest in improving their productivity and automation.Update with your French -speaking business firm in Bangkok, Orbis

These incentives, which are part of the government project "Industry 4.0 ”, include an exemption from corporate corporate tax over three years covering 100 % of the investments made in the update of industry 4.0.These measures complete the already existing devices to stimulate productivity, automation and digital technology in Thailand.

Industry 4.0 is a term used to describe the digital transformation of manufacturing, namely all current trends in automation, data exchange technologies and digital services such as Cloud Computing (IAAS, PAAS or Saas), the Internet of Things (IoT), the cyber-physical system (CPS) or the cognitive calculation (CC).

Nouvelles incitations fiscales pour l'industrie et l'automatisation en Thaïlande

Companies will have to submit their investment plans when applying to benefit from the advantages.Applications will be accepted until the end of 2022.

The Board of Investment (BOI) will cooperate with the National Agency for Scientific and Technological Development (NSTDA) as part of this initiative, because the NSTDA will help to assess and advise investment plans to transform industry 4.0 that companies will have to present.

If their upgrade plans are approved, eligible companies will have three years to implement them.

The BOI also extended the existing special stimuli to promote investment in small and medium -sized enterprises until the end of 2022.If you want to discover more about these incentives and know if your business is eligible for other government benefits, do not hesitate to contact the Orbis team in Bangkok at Contact@Orbis-Alliance.com.

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