Incentives for automotive industry
The Ministry of Industry will launch new incentives for car makers in 7 provinces: Phra Nakhon Si Ayutthaya, Pathum Thani, Chonburi, Rayong, Chachoengsao, Prachinburi, and Nakhon Ratchasima Provinces.
Keywords: Mazars, Thailand, Tax, Ministry of Industry, Corporate Income Tax
12 November 2015
The government will offer tax incentives to companies which invest in those areas in 2015 and start operations by 2016. These incentives include increasing the period for the corporate income tax exemption to eight years, and raising the rate for the reduction of corporate income tax to 50% for the next five years after the tax holiday.
For companies using high technology or performing vehicle research and development or testing, the government will offer tax incentives for 10 to 15 years, compared to the 8 years which are now under consideration.