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New BOI-related merit-based incentives related to R&D
Based on resolutions passed by the Board of Investment (BOI) on 30 June 2021, the BOI will offer an additional unlimited tax holiday for up to 5 years for projects investing in research and development.
Keywords: Mazars, Thailand, Legal, BOI, R&D, SMEs, Tax holiday
10 September 2021
The key criteria and incentives are as follows:
| Minimum investment and expenses for R&D only | Additional tax holiday | |
General | SMEs | ||
At least 1% of total sales over the first three years, or at least THB 200 million | At least 0.5% of total sales over the first three years | 1 year | |
At least 2% of total sales over the first three years, or at least THB 400 | At least 1% of total sales over the first three years | 2 years | |
At least 3% of total sales over the first three years, or at least THB 600 million | At least 1.5% of total sales over the first three years | 3 years | |
New
| At least 4% of total sales over the first three years, or at least THB 800 million | At least 2% of total sales over the first three years | 4 years |
New | At least 5% of total sales over the first three years, or at least THB 1 billion | At least 2.5% of total sales over the first three years | 5 years |
Notes:
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If the amount of the investment and expenses for a project does not meet the minimum amounts set out above, the project will still be entitled to a corporate income tax holiday in proportion to the amount of the investment and expenses.
Reference: Board of Investment
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