Thailand Tax Agency Announces Tax Benefits for Companies in Special Economic Zones

The Thai Revenue Department Feb. 11 announced tax benefits for companies in special economic zones. The benefits include: 1) a corporate income tax rate reduction to 10 percent from 20 percent for 10 consecutive years or accounting periods, for companies that apply before Dec. 30; and 2) a VAT exemption and an income deduction of up to three times the expense for tangible personal property donations to the center supporting personnel development, capped at net profit or 100 million Thai baht (US$3.16 million), until Dec. 31. [Thailand, Revenue Department, 02/11/20]

Reference:
View News No. 16/2020. View Index.