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published on 9 December 2022 | reading time approx. 1 minute
In November 2022, the Thai Board of Investment (BOI) announced a package of measures to implement the five-year plan. This package includes a comprehensive relocation program.
This relocation program will exempt companies from Corporate Income Tax for up to five years. The prerequisite for this tax relief is that companies relocate all their activities to Thailand. This includes the regional headquarters, research and development (R&D) center and manufacturing facilities.
In case only manufacturing facilities and the regional headquarters are relocated, an exemption from Corporate Income Tax will be granted for three years, while companies relocating their production facilities and R&D-centers are also granted an exemption from Corporate Income Tax for one to five years, depending on the industry. All Corporate Income Tax exemptions only apply to the revenues generated by the relocated production activities.
These measures will take effect in January 2023.
Martin Chrometzka
Associate Partner
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