Thai Cabinet Approves Automation and Robotics Tax Incentives

April 29, 2020, 2:45 PM

The Thai cabinet approved new tax incentives proposed by the Finance Ministry to lower costs for foreign investors in manufacturing automation and robotics.

The new tax deductions of between 50% and 150%, available only to foreign investors, were agreed to in a cabinet meeting Tuesday, with details released overnight. The government hopes to attract foreign companies to hire and train Thai workers, creating 40,000 highly skilled jobs. The revenue cost of the tax breaks, which all run from Jan. 1, 2019 to Dec. 31, 2020, is estimated at 33.2 billion baht ($1.0 billion).

  • The estimated cost of tax ...

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