Last updated: 7 May 2021 | 2867 Views |
Investment Promotion Certificate (BOI)
Consulting for tax privileges (BOI) all types of businesses For tax exemptions, especially "software businesses" are businesses that the BOI has given special importance to. By adding special tax incentives to support software businesses 8-year corporate income tax exemption and no specified amount of corporate income tax exemption (according to the project conditions)
The business that will be promoted to investment It must be an activity that is important and beneficial in the economic, social and security aspects of the country. Manufacture for export Businesses that use high rates of capital, labor, or services Or businesses that use agricultural products Or natural resources as raw materials And that business still does not exist in the Kingdom Or there is, but not enough Or there are methods that are not modern
Investment promotion policy
To alleviate the government's fiscal burden And to comply with the current economic conditions And future trends The Board of Investment has therefore established the following investment promotion policies.
1. Increase efficiency and worthiness in the exercise of rights and tax benefits. By giving rights and benefits to projects that have real economic benefits. Use the principles of good governance and management in granting tax privileges and benefits. The performance of the promoted project must be reported. For the office to check Before using the rights and benefits of corporate income tax in that year
2. Encourage the industry to develop quality systems. And production standards to compete in the world market By requiring all promoted persons with investment projects of more than 10 million baht (Excluding cost of land or working capital) must obtain a quality system certificate according to ISO 9000 or other equivalent international standards.
3. Adjust investment promotion measures to be in line with the trade agreements. And international investment by abolishing export conditions and using domestic parts
4. Special investment support in the region. Or low-income local And there is little facilitation for investment By giving the highest tax rights and benefits
5. Give importance to the promotion of small and medium industries by stipulating the minimum investment conditions for the promoted projects of only 500,000 baht (excluding cost of land and working capital) for businesses in accordance with the Notification of the Commission No. Not less than 1 million baht (excluding cost of land and working capital) for other businesses
6. Give priority to agriculture and agricultural products. Business related to the development of technology and human resources Public Utilities Public utilities and basic services Environmental Protection and Conservation Affairs and Targeted Industries
Investment Promotion Account
Section 1: Agriculture and Agricultural Products
Section 2 Mine, Ceramics and Basic Metals
Section 3: light industry
Section 4: Metal Products, Machinery and Transport Equipment
Section 5: Electronic Industry and Electrical Appliances
Section 6 Chemicals, Paper and Plastics
Chapter 7 Services and Public Utilities
Exemption / reduction of import duty on machinery (Section 28/29)
Reduction of import duties on raw or essential materials (Section 30)
Exemption of corporate income tax and dividends (Sections 31 and 34)
50% reduction of corporate income tax (Section 35 (1))
• Doubling the cost of transportation, electricity and water supply (Section 35 (2))
• Additional 25% deduction for the cost of installation or construction of facilities (Section 35 (3))
Exemption of import duties on raw materials or essential materials used in the manufacture of exportation (Article 36).
Benefits that are not related to taxation
Permission to bring in foreigners to study investment opportunities (Section 24)
• Allowed to bring craftsmen. And experts working in promoted businesses (Articles 25 and 26)
• Permission for land ownership (Section 27) • Permission to export foreign currency (Section 37)
The State does not transfer the affairs of the promoted person to the state (Article 43).
The state will not run a new business in competition (Article 44).
The state will not have a monopoly on the sale of the same product as the promoted person (Article 45).
The state does not control the price of the products of the promoted person (Article 46).
Exports are always permitted by the state (Article 47).
• The state will not allow government agencies. Government organization Or state enterprises Bring in products of the same kind that are promoted with exemption from import duty (Section 48).
Protection (Consider as appropriate)
• Collection of a special import fee for importing products of the same type that are produced domestically. But not more than 50% of the total price of insurance and transportation, which is applicable not more than one year each time (Section 49)
• In the event that Section 49 is not sufficient to provide protection May add measures It is prohibited to import products of the same kind that are manufactured in the country (Article 50).
• The chairman of the board has the power to give assistance. If the promoted person encounters a problem or obstacle in conducting their business (Article 51)
• The chairman of the board has the power to revise the case that the rate structure Or the method of collecting duties Service charge or fee It is an obstacle to the activities of the promoted person (Article 52).
Scope of service
• Request for approval of raw material list.
• Requesting approval of machinery list
• Requesting approval for production formulas.
• Requesting to import raw materials
• Requesting to import machinery
• Requesting for retroactive machinery
• Request for Return of Materials
• Request for repair of machinery
• Requesting approval for debit accounting
• Requesting approval to debit machinery
• Domestic sales of raw materials
Approval regarding the loss (Scrap)