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Thailand Announces Tax Measures to Promote Investment

On 4 January 2016, Thailand's Deputy Prime Minister Somkid Jatusripitak announced a number of tax measures taken to promote investment in 2016 and future years. The measures include:

  • The application process for public-private partnership (PPP) projects is reduced from 25 months to 9 months (PPP projects eligible for corporate tax exemptions up to 8 years, related import duty exemptions, double deductions for certain costs, and other incentives);
  • A 10% to 15% corporate tax exemption will be provided for targeted "high-potential" industries and an income tax exemption will be provided for certain professionals working in targeted industries (industries not specified); and
  • Double deductions will be allowed for machines, equipment, computer programs, vehicles and facilities acquired for expansion activities by private investors before 31 December 2016.

The Deputy Prime Minister also covered the 300% deduction for qualifying R&D expenditure that applies for expenditure incurred from 1 January 2015 to 31 December 2019 (previous coverage), and the establishment of a THB 100 billion "Thailand Future Fund" to support large-scale investment projects.

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