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Economic stimulus package

The Cabinet approved an economic stimulus package on 4 March 2008, which includes the following tax measures for corporate and individual taxpayers that will take effect from 2008:

Direct taxation

(a) Rates.

-   companies with taxable income not exceeding THB 1.2 million will be' exempted from tax;
-   the corporate income tax rate is reduced to 25% for newly listed companies on the Stock Exchange of Thailand (SET), for a period of 3 years. Companies currently listed on the SET will also be eligible for the reduced 25% rate on net profits of up to THB 300 million for 3 years;
-   the tax rate for companies listed on the Market for Alternative Investment (MAI) is reduced to 20% for the first 3 accounting years. The applications for listing must be submitted between January 2008 to December 2009, and the company must be listed by December 2009. For companies currently listed on the MAI, the reduced rate of 20% is applicable for the first THB 20 million of profits for 3 accounting years; and

companies with paid-up capital not exceeding THB 5 million are exempted from tax on the first THB 150,000 of profits. Additional profits are subject to the following rates:

Amount (THB) Rate (%)
less than 1 million 15
1 – 3 million  25
3 million and above  30

(b) Incentives.


the procurement costs of energy-saving equipment acquired before December 2010 is deductible up to 125%;

-   the acquisition costs of machinery and equipment acquired before December 2010 is depreciable at 40% per annum;
-   computer software can be depreciated over 3 accounting periods; and
-   companies owning fixed assets (excluding land) valued at less than THB 200 million and with less than 200 employees are permitted to depreciate 40% of software costs on the date of delivery. The balance of these costs can be depreciated over 3 accounting periods. Assets costing less than THB 500,000 can be fully written-off.

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