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: - The total tax holiday cannot exceed 13 years.
- Where R&D is one of the activities of the project, the entrepreneur must invest more than the minimum amounts listed to receive the additional incentives mentioned above.
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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
