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THAILAND: Personal and Corporate Income Tax Set to be Waived in Three Southern Provinces

The Thai government is set to waive personal and corporate income tax for investors in the southern provinces of Yala, Narathiwat and Pattani. The corporate tax exemption will also be extended to the parent companies of any firms investing in the provinces. The exemptions are expected to be implemented by the end of the month, following endorsement by the Thai cabinet.

The measures come as part of a larger initiative designed to promote investment in the country’s underdeveloped southern regions. Most recently, a 2020 extension was announced for the preferential personal and corporate income tax incentives already enacted in the provinces’ economic zones. These initiatives also extend to the Satun province, as well as to the Chana, Thepha, Na Thawi, and Saba Yoi districts of the Songkhla province.[1]

 


[1]  Thai Government Public Relations Department official website

 

Content provided by Picture: HKTDC Research
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