A Guide to the Board of Investment 2021 BOI News Think Asia, Thailand Invest APP @Boinews BOI News This Complimentary Sale
Total Page:16
File Type:pdf, Size:1020Kb
Thailand Board of Investment www.boi.go.th A Guide to The Board of Investment A Guide to The Board of Investment 2021 Office of The Board of Investment Think Asia, @boinews Invest Thailand 555 Vibhavadi-Rangsit Road, Chatuchak Bangkok 10900 Thailand BOI News APP BOI News Tel: +66 (0) 2 553 8111 Fax: +66 (0) 2 553 8315 Website: www.boi.go.th Email: [email protected] This complimentary guide book is not for sale. For inquiry, please contact Thailand Board of Investment. A Guide to The Board of Investment 2021 This Guide to the Board of Investment was prepared by the Office of the Board of Investment Preface to provide basic information on BOI investment promotion for applications submitted from January 1, 2015, onward. This guidebook comprises investment promotion incentives and privileges, the list of activities eligible for investment promotion and related announcements including essential rules and criteria for applying investment promotion. Since the policies and criteria for granting privileges and the list of the eligible activities for investment promotion are subject to change over time, investors can access updated information from the BOI’s website at www.boi.go.th or send their enquiries to [email protected], Tel: +66 (0) 2553-8111, Line: @boinews or FB: www.facebook.com/boinews Office of The Board of Investment May 2021 2 This complimentary guide book is not for sale A Guide to The Board of Investment 2021 Chapter 1 Page Contents Criteria and Policies 4 About the Office of the Board of Investment 4 Incentives under the Investment Promotion Act 7 Seven-Year Investment Promotion Strategy (2015 - 2021) 8 » Criteria for Granting Promotion Incentives 14 » General List of Activities Eligible for Investment Promotion 24 Other Policies and Special Measures 104 1. Investment Promotion Measure in the Eastern Economic Corridor (EEC) 105 2. Investment Promotion Measure in the Southern Border Provinces and 108 Investment Promotion Measure under Model City Project in the Southern Border Provinces 3. Investment Promotion Measure in the Special Economic Zones (SEZ) 114 4. Efficiency Enhancement Measure 130 Chapter 2 Procedures of Applying for BOI Promotion 138 Procedures for Investment Promotion Application 139 Processes for Project Implementation and Promotional Privileges Utilization 140 Investment Promotion Procedures and Required Document 142 Chapter 3 Feasibility Study 144 Feasibility Study for Projects Applying for Investment Promotion 145 Contact us 148 This complimentary guide book is not for sale 3 A Guide to The Board of Investment 2021 Chapter 1 Criteria and Policies About The Office of The Board of Investment The Office of the Board of Investment is a government agency under the Office of the Prime Minister. Its main roles and responsibilities are to promote direct investment. The Board of Investment prescribes the investment promotion policies under Investment Promotion Act No. 2 B.E. 2534, No. 3 B.E. 2544, and No. 4 B.E. 2560. 4 This complimentary guide book is not for sale A Guide to The Board of Investment 2021 Organization Chart of Office of the Board of Investment Office of the Prime Minister Policy Office of the Board of Investment Board of Investment Office of the Secretary General Information Technology Center Foreign Investment Marketing Division International Affairs Division Investment Ecosystem Division Information Technology Center Regional Investment and Economic Center 1-7 Thai Enterprise Development Division • Chaing Mai • Songkhla • Nakhon Ratchasima • Surat Thani Investment Promotion Division • Khon Kaen • Phitsanulok • Investment Promotion Division 1 • Chon Buri Bio and Medical Industries • Investment Promotion Division 2 Advanced Manufacturing Industries • Investment Promotion Division 3 Overseas Offices Basic and Supporting Industries • Tokyo • Sydney • Investment Promotion Division 4 • Osaka • Frankfurt Digital, Creative Industries and High Value Services • Seoul • Paris • Beijing • New York • Guangzhou • Los Angeles Investment Monitoring Division • Shanghai • Mumbai • Investment Monitoring Division 1 - Bio and Medical Industries • Stockholm • Jakarta - Advanced Manufacturing Industries • Taipei • Hanoi • Investment Monitoring Division 2 - Basic and Supporting Industries - Digital, Creative Industries, and High Value Investment Services Center Services One Start One Stop Investment Center (OSOS) One Stop Service Center for Visas and Work Permits This complimentary guide book is not for sale 5 A Guide to The Board of Investment 2021 Scope of work of The Investment Promotion Division 1-4 and The Investment Monitoring Division 1-2 Investment Promotion Division Project Evaluation Works regarding Monitoring Works regarding project evaluation and Evaluation including: - Following up under e-Monitoring System - Applying projects for BOI Promotion - Notifying to Meet Project Conditions promotion Privileges - Amending promoted projects Utilizationn Works regarding Auditing (except from the stage of auditing Works regarding the - Supervising Project Conditions about the operation of projects) utilizing of incentives Operation Start-up, ISO, STI, Merits, etc. - Protecting promoted projects - Machinery - Extending of Operation Start-up - Extending period for the Machinery - Raw and Essential - Utilizing of Corporate Income Tax Importation Period (4th) onwards Materials Exemption - Extending period for the - Land - Cancellation or Partial Withdrawal of Operation Start-up (2nd) onwards Rights and Benefits Investment Monitoring Investment Promotion Division 1 Division 1 Supervising and analyzing investment promotion projects To consider the utilization of corporate Bio-based and Medical Industries income tax exemption, monitoring the progress and auditing the operation start-up (including the project amending Investment Promotion Division 2 on this stage) of the promoted projects Supervising and analyzing investment promotion projects supervised by Investment Promotion Advanced Manufacturing Industries Division 1 and 2 Investment Monitoring Investment Promotion Division 3 Division 2 Supervising and analyzing investment promotion projects To consider the utilization of corporate Basic and Supporting Industries income tax exemption, monitoring the progress and auditing the operation start-up (including the project Investment Promotion Division 4 amending on this stage) of the Supervising and analyzing investment promotion projects promoted projects supervised by High Value Services Investment Promotion Division 3 and 4 Division Providing Advisory Services Investment Services One Start One Stop Thai Enterprise Center Investment Center (OSOS) Development Division Provides advice and Provides advice on business operation - Develop knowledge and technology facilitation on investment and obtaining licenses to Thai enterprises and Thai overseas promotion investment - Build local and overseas promotional networks and train Thai investors in overseas investment. 6 This complimentary guide book is not for sale A Guide to The Board of Investment 2021 Scope of work of The Investment Promotion Division 1-4 and The Investment Monitoring Division 1-2 Incentives Under The Investment Promotion Act In order to obtain investment promotion, the BOI applicant must follow the conditions prescribed by the Board of Investment as specified in the BOI promotion certificate in which the following incentives will be granted: Incentives Tax Incentives Non-Tax Incentives • Exemption/reduction of import duties on machinery • Permit for foreign nationals to enter (Section28/29) the Kingdom for the purpose of • Reduction of import duties for raw or essential materials studying investment opportunities. (Section 30) (Section 24) • Exemption of import duties on materials imported for R&D • Permit to bring into the Kingdom purposes (Section 30/1) skilled workers and experts to work in • Exemption of corporate income tax on the net profit and investment promoted activities dividends derived from the promoted activity (Section 31 and 34) (Section 25 and 26) • A 50 percent reduction of the corporate income tax • Permit to own land (Section 27) (Section 35(1)) • Permit to take out or remit money • Double deduction from the costs of transportation, electricity abroad in foreign currency (Section 37) and water supply (Section35(2)) • Additional 25 percent deduction of the cost of installation or construction of facilities (Section35(3)) • Exemption of import duty on raw or essential materials imported for use in production for export (Section 36) Use of Corporate Income Tax Incentives To ensure that the incentives are granted effectively and exercised correctly in accordance with promotion conditions and to ensure the clear cost-and-benefit evaluation of investment promotion, promoted persons must report operating results for their projects to the Office of the Board of Investment for review prior to being granted corporate income tax incentives for that year. The reporting criteria and method shall be as prescribed by the Office of the Board of Investment. This complimentary guide book is not for sale 7 A Guide to The Board of Investment 2021 Seven-year Investment Promotion Strategy (2015 – 2021) According to the Announcement of the Board of Investment No.2/2557 Policies and Criteria for Investment Promotion announced on December 3, 2014 which is enforced on BOI applications submitted from January 1, 2015, onward: Vision To promote valuable investment, both investment in Thailand and Thai overseas investment to enhance Thailand’s competitiveness, to overcome