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THAILAND: Eight-year SME Income Tax Exemption Scheme Extended Until 2019

An incentive scheme offering an eight-year corporate income tax (CIT) holiday to Thai majority-owned SMEs in certain priority business sectors has been extended until 30 December 2019. Previously, it was scheduled to finish at the end of 2017.

Managed by the country’s Board of Investment (BOI), SMEs must be at least 51% Thai-owned in order to be eligible for the scheme, while also be operating in one of the country’s priority business sectors. The number of such sectors has been expanded from 40 to 100 and now includes jewellery, glass production, auto parts, software, printing, pharmaceuticals and film production.

As an additional incentive, a three-year 50% CIT exemption is on offer after the conclusion of the initial eight-year tax break. Furthermore, in the case of any domestically-owned SMEs operating in one of the country’s 20 least-developed provinces, the supplementary 50% CIT incentive is extendible for a further two years, while 200% tax deductions can also be claimed in the case of certain designated expenses.

Content provided by Picture: HKTDC Research
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