BOI Procedure for Machinery Damaged by Floods
Moving machinery which has been damaged by floods from a Board of Investment (‘BOI’) promoted company’s factory is regarded as “machinery disposal”.
Keywords: Mazars, Thailand, Legal, BOI, Floods, Machinery disposal
11 April 2013
This requires the promoted company to pay the import duty on the machinery disposed. After paying the import duty, the promoted company must submit the receipt to the BOI to write off the machinery from the BOI control list.
On 18 January 2013, the Board of Investment of Thailand (‘BOI’) announced an additional procedure relating to machinery disposal. The promoted company can now use the certificate issued by the insurance company to request the BOI to write off the machinery from the BOI control list without any import duty imposed.
Please visit the Board of Investment for more information and certificate.
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