Thai tax: Thai Corporate income tax exemption

According to proposed legislation, the Securities Exchange of Thailand (SET), in cooperation with the Board of Investment, will provide a corporate income tax exemption for profits that exceed investment in promoted business activities. Currently, a number of companies have enjoyed the corporate income tax exemption under the Investment Promotion Act, but under the proposed rules, if the company granted the exemption registers with the SET by 2012, the company will continue to enjoy the corporate tax exemption on profits generated from the promoted activities that exceed the original investment without limitation. The new rule will not be applicable to companies that are already listed on the SET.