BANGKOK: The Board of Investment of Thailand (BOI) has approved measures to promote investment in the Eastern Economic Corridor (EEC) by expanding the number of target industries and increasing corporate income tax benefits.
A meeting of the BOI, chaired by Prime Minister and Defense Minister, Gen. Prayut Chan-o-cha, approved the measures to attract more investors to the EEC.
The first measure is to expand target industries and businesses in the EEC, such as industries in the advanced technological development and supporting industries.
The second measure is to increase corporate income tax benefits, which cover human resource development and location. Companies in the A1, A2 and A3 business categories will be entitled to a 50% reduction in corporate income tax for three more years, while technological industries and businesses will enjoy corporate income tax exemption for two additional years.
Companies located in the EEC’s Innovation Zone, Industrial Promotional Zone, Digital Innovation Zone, Eastern Aviation City and the EECmd in Thammasat University, Pattaya Campus, will receive a 50% reduction in corporate income tax for two more more years.