Cabinet approves tax incentives for research investment by MNCs

The Cabinet has approved tax incentives for multi-national corporations’ investment in research and development to promote innovations and technology in Thailand.

The spokesman of the Prime Minister’s Office, Lt. Gen. Sansern Kaewkumnerd said on Tuesday that the weekly Cabinet meeting approved in principle the draft royal decree on the reduction and waiver of taxes to promote investment by multi-national corporations in Thailand.

The tax incentives are specifically aimed at MNCs’ investment in research and development of technology in the country.

Lt. Gen. Sansern said that details of the tax incentive program will vary from company to company, as it will be subject to the nature of each business and tailored to attract foreign investors to use Thailand as an R&D base, which will help create more jobs and bring in further investment as the implementation of the country’s Eastern Economic Corridor initiative is progressing.

Information and Source
Reporter : Kitti Cheevasittiyanon
Rewriter : Rodney McNeil
National News Bureau & Public Relations

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