15 Nov 2019
THAILAND: Tax Incentive Packages Extended to Five Additional Food Innovation Hubs
Five further Food Innopolis sites across the country have been designated as Board of Investment (BOI) approved science and technology zones. Projects located within any such state-backed food innovation hub and relating to one of a number of government-designated priority areas – including plant/animal breeding, food research/development and scientific testing services – will now be eligible to either pay Corporate Income Tax (CIT) at 50% of the standard rate for an extended five-year period or to enjoy a two-year CIT waiver following an existing initial tax-free period of five to 10 years, depending on the specific industry sector they are active in. Including the five recently approved sites, 13 such zones now fall within remit of the BOI’s investment incentive regime.
The five additional Food Innopolis sites are:
Thammasat University (Bangkok), King Mongkut University of Technology Ladkrabang (Bangkok), Ubon Ratchathani University (Ubon Ratchathani province), Walailak University (Nakhon Si Thammarat province) and Naresuan University (Phitsanulok province).
The eight previously BOI-endorsed sites are:
The Thailand Science Park (Pathum Thani province), Chiang Mai University (Chiang Mai), Khon Kaen University (Khon Kaen province), Prince of Songkhla University (Songkhla province), Kasetsart University (Bangkok), Chulalongkorn University (Bangkok), Mahidol University (Nakhon Pathom province), and King Mongkut University of Technology Thonburi (Bangkok).