The Thai Board of Investment on June 30 approved several measures to encourage further investment in research and development (R&D).
To boost private-sector R&D investment to drive innovation, the incentives include longer tax breaks for R&D projects for companies spending at least THB 200 million (USD 6.2 million) or 1% of a company’s total sales during the first three years. There is no applicable corporate income tax exemption ceiling, and the number of additional years of tax breaks depends on the amount of R&D spending.
The Board of Investment is also offering targeted incentives for investments related to semiconductors, digital businesses, and the packaging industry. The race to fill the gap in the global semiconductor shortage has led other nations to offer, or consider, such similar industry-specific incentives, including South Korea and the US.
The Thai Board of Investment is a government agency under the Office of the Prime Minister that is tasked with promoting cross-border investment, including both foreign investment into the country and Thai investments abroad.
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