Thailand Plans Incentive to Aid Companies After OECD Tax Rule

Thailand plans to introduce a new incentive to help companies cope with the OECD’s new global minimum tax rule, according to the Board of Investment.

• BOI proposes to revise a law on the nation’s competitiveness to include the so-called qualified refundable tax credit for multinational companies, the agency says in a press release on Monday
• NOTE: Thailand has amended its law to comply with OECD’s GMT rule, effective from Jan. 1. Currently, about 1,500 multinational companies and 100 major Thai firms fall under this rule
• The tax credit will allow key expenditures, such as R&D, innovation, high-skill workforce development as ...