Thailand's Board of Investment (BoI) has given the go-ahead for business support measures in the provinces of Pathum Thani and Ayutthaya to avoid industrial relocation from areas recently hit by bad weather. Interested companies will have until the end of the year to present valid applications both for new investments and for projects already underway. This measure follows last December's decision to financially help groups affected by the floods. In that case, however, no funds were foreseen for new investments.
Among the support measures, new or existing projects will receive eight years of tax deductions at a rate of 150% of the value of the new investment. Therefore, if a company invests 100 million baht in Pathum Thani within the eight years of the exemption regime, it will then be able to request a tax liability of 150 million for the rest of the deduction period. Projects in the Ayutthaya region will receive the same benefits, plus an additional 50% in the three years following the eight-year plan. Taxes on imports of machinery will also be eliminated as long as the equipment is less than ten years old.
Also read the Bangkok Post
