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TAX NEWS - DECEMber 2009 | |||||||||||||||||||||||||||||||||||||||
Thailand: BOI revises conditions and policies on investment promotionThe BOI also agreed to revise conditions and policies to promote investment and protect local operators, as follows: - The maximum foreign shareholding requirement will be reduced from 100% to 49% for businesses propagating/grading local plant varieties, although there has been no official announcement of the details of this reduction or when it will take effect. - A corporate income tax exemption or reduction will apply to support the Clean Development Mechanism for income derived from sales of carbon credits. The Thai Revenue Department's related measures will be used so that all operators that sell carbon credits can receive the tax exemption, regardless of whether they are BOI-promoted companies. A Royal Decree must be issued before the policy will apply. - Businesses to be promoted will be increased from 10 to 57 categories for investments by small and medium-size enterprises (SMEs), including all groups of industries and services. Business operators will be able to contribute local used machinery (not exceeding THB 10 million) to the proposed SME's project together with new machinery. Investment on new machinery must not be less than one-quarter of the value of used machinery. This measure is effective as from 16 November 2009, although the notification has not yet been issued. | |||||||||||||||||||||||||||||||||||||||
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