Cabinet OKs tax privileges for foreign firms opening headquarters in Thailand

The Cabinet has agreed to offer tax reductions and exemptions to some foreign companies which set up head offices in Thailand.

Following the weekly Cabinet meeting, Government Spokesperson Lt Gen Sansern Kaewkumnerd announced that a green light has been given to a draft royal decree under the Revenue Code pertaining to the adjustment of tax policy.

He elaborated that the legislation will provide tax reductions and exemptions for transnational companies in exchange for their establishment of headquarters in the Kingdom. The incoming investors will also be required to bring along their subsidiaries in order to be eligible for the privileges.

As this condition would allow a wide range of companies to qualify, the government has decided to reserve the tax cuts and waivers, for only those involved in technological research and development in the country. The draft law, once enacted, is expected to greatly benefit domestic trade and logistics.

Information and Source
Reporter : Surapan Laotharanarit
Rewriter : Surapan Laotharanarit
National News Bureau & Public Relations

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