10 April 2017
THAILAND: 50% Cut in Corporate Tax Added to Incentives for Coastal Corridor Investors
A 50% reduction in corporate income tax (CIT) over a five-year period is now on offer to investors in Thailand’s Eastern Economic Corridor (EEC), which straddles three coastal provinces ̶̶ Chachoengsao, Chonburi and Rayong.
Qualifying projects need to fall within one of the 10 high-tech industry sectors designated as priorities within the zone ̶̶ smart electronics; next-generation cars; digital services; high-end medical and wellness tourism; agriculture and biotechnology; food; industrial robotics; logistics and aviation; biofuels / biochemicals; and the provision of medical services.
The measure comes in the wake of a number of other incentives already announced for EEC investors. These include a 17% personal income tax rate (PIT) for senior executives and experts working on FDI projects, as well as the granting of 50-year land leases within the zone.
For further details, see THAILAND: Extended Land Leases Confirmed for Coastal Economic Development Zone.