H&P is glad to announce the success of our latest BOI application in September 2022. This application was made by our H&P Bangkok Lawyers to obtain BOI promotion in the business of Basic and Supporting Industries regarding to Manufacturing of Special Polymer Products which fall in the category 6.5.1.

Our client obtained Tax incentives under A2 category which means an exemption of the Corporate Income Tax for 8 years. The application was carefully prepared by our Thai Corporate Lawyers working closely with our client during several months.

The term of Special Polymer is specified by Petroleum Institute of Thailand (PIT). Thailand BOI cooperated with the relevant institutions to have an analysis of the products and to reach and issue a final resolution whether or not the product complied to the condition of the Special Polymer Product.

Now the resolution of the PIT is final. The products which are not considered as a Special Polymer Products shall not receive the benefit and privilege based on A2 category. However, the products may be fall into other category of the promotion such as 6.1 Manufacturing of Chemical Production which falls into the category A4 in business type 6.1

THAILAND BOARD OF INVESTMENT AND ITS INCENTIVES

Thailand Board of Investment or BOI is a government agency under the Office of the Prime Minister. Its core roles and responsibilities are to promote investments. The types of business are categorized as follows:

1) Agricultural, Bio and Medical Industries

2) Advanced Manufacturing Industries

3) Basic and Supporting Industries

4) Digital, Creative Industries and High Value Services

5) Research and Development, Targeted Core Technology Development

There are differences of incentives of each type of business especially when it comes to exemptions in the Corporate Income Tax (CIT) as follows:

A1: Exemption of the CIT for 10 years (No limit)  
A2: Exemption of the CIT for 8 years (No limit)    
A3: Exemption of the CIT for 8 years
A4: Exemption of the CIT for 3 years
B1: No exemption (Special condition is required)
B2: No exemption

If you plan to invest in Thailand and need legal advice on BOI Tax incentives, please contact our Bangkok lawyers at [email protected]

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