Thailand: An Asian Hub, a World of Opportunities

BOI Introduction

  • The Office of the Board of Investment is a government agency under the Office of the Prime Minister.
  • Chairman : Prime Minister
  • The main roles and responsibilities are in promoting investment for foreign and local investors by “Tax - based incentives” and “Non - Tax incentives”.

Thailand in Brief

Thailand’s Fast Facts

  • Thai Population: 64.79 million (2013)
  • Thailand’s GDP: US$385 billion
  • US$5,647 per capita GDP
    • By Sector
      • Agriculture: 12%
      • Industry: 45%
      • Services: 43%
  • Thai labor force: 38.90million (2014 July)
  • Thai Import/Export Value:
    • Import: US$ 171.97 billion (2014 Jan-Sep)
    • Export: US$ 170.46 billion (2014 Jan-Sep)

Thailand is the World’s:

  • 16th largest manufacturer
  • 12rd largest agriculture output
  • 24th biggest economy by purchasing power
  • 27th biggest exporter (as % of total world goods)

2nd largest economy in ASEAN (GDP US$385 billion in 2013)

GMS Infrastructure Development

  • North-South Corridor
  • North-Eastern Corridor
  • East-West Corridor
  • Southern Corridor
  • Central Corridor
  • Southern Coastal Corridor

Thailand’s Taxation

  • Corporate Income Tax: 1) 10% for Regional Operating Headquarters, 2) 15% of net profits (for firms with capital of ≤ Bt5 million baht.), 3) 20%* of net profits (for other firms)
  • VAT: 7%
  • Remittance: 10% of gross remittances
  • Withholding: 10-15%
  • Personal Income Tax: 0-35% **

Thailand’s corporate income tax is the 2nd lowest in SE Asia

Investment Policy and Incentives

  • Basic BOI privileges and measures
    • Corporate income tax holidays for up to 8 yrs
      • Additional 50% reductions of corporate income tax for 5 yrs
    • Import duty reductions or exemptions on machinery and raw materials
    • Double deduction of public utility costs
    • Deductions for infrastructure construction/installation costs

Non-Tax measures

  • Land ownership rights for foreign investors
  • Work permit/visa facilitation for foreign experts and technicians
  • One Stop Service Center for Visas & Work Permits

Issued in 3 hours

Other Special Policies

  • Investment Promotion Policy for Industrial Development in Border Provinces in Southern Thailand
  • Investment Promotion Policy for Investment in Special Economic Zones

Click here to view more special policies.

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