The Board of Investment (BOI) has released new investment promotion measures as part of its five-year investment promotion strategy (2023-2027), which includes improvements to existing measures, extensions, and new releases, and which has been in effect since 3 January 2023.

The BOI has designated the following investment promotion zones under the new investment promotion measures: 

1. Eastern Special Development Zone;
2. Special economic zone according to the Regulation of the Office of the Prime Minister on Special Economic Zone Development B.E. 2565;
3. Southern Border Provinces and Model City Project Areas in Southern Border Provinces;
4. The 20 provinces with low income per capita are Kalasin, Chaiyaphum, Nakhon Phanom, Nan, Bueng Kan, Buriram, Phatthalung, Phrae, Maha Sarakham, Mukdahan, Mae Hong Son, Yasothon, Roi Et, Sisaket, Sakon Nakhon, Sa Kaeo, Surin, Nong Bua Lam Phu, Ubon Ratchathani, and Amnat Charoen;
5. Science and Technology Park, including innovation districts promoted or approved by the Board.

Additional privileges and benefits in the targeted areas, consist of the following:

1. Additional rights and benefits for industrial area development: If a business establishment is located in an industrial estate or a promoted industrial zone, an additional year of corporate income tax exemption will be granted, excluding the type of business subject to a condition that it must be established in an industrial estate or a promoted industrial zone;
2. Additional rights and benefits to help the region prosper: If a business is located in one of the 20 provinces with the lowest per capita income, it will receive the following additional rights and benefits:

• • Exemption from corporate income tax for another three years. However, if it is a business in Group A 1 or A 2, it will receive a 50% reduction in corporate income tax on net profits derived from the investment for a period of 5 years from the date the corporate income tax exemption period expires;
  • For a period of ten years from the date of first earning income from the promoted activity, transportation, electricity, and water costs can be deducted twice;
  • It is permitted to deduct the cost of facility installation or construction from the net profit of 25% of the investment in the promoted activity. The promoted person may deduct from the net profit of any year or years within ten years of the date of income from the promoted activity. This is on top of normal depreciation.

Additional rights and benefits for other targeted areas, on the other hand, will be in accordance with relevant announcements.