Thailand BOI Flood Relief Measures
Updated as of January 2012
Here is the summary of the updated flood relief measures implemented by the Board of Investment of Thailand.
Measures to Minimize Business Interruption
- Factories can be allowed to temporarily relocate elsewhere to continue their production for the period of 6 months from the application submission date. This temporary relocation period can be extended if necessary.
- Manufacturing process can be allowed to be outsourced partially or wholly on a temporary basis.
- The BOI, the Ministry of Labor and the Immigration Bureau help facilitate companies to bring in foreign experts and technicians to rehabilitate the factories.
Measures to Reduce Tax Burdens
- The importation of machinery for replacement is entitled to duty-free. (submission deadline is by the end of June 2012)
- Raw materials imported damaged by the flooding can be counted as part of the waste allowance without any tax burden.
- Additional years of corporate income tax exemption are offered to BOI-promoted companies directly affected by the recent flooding that are still during their tax holidays.
- Industrial estates that invest in flood prevention systems are also offered 8-year tax holidays with the corporate income tax exemption ceiling of 200% of their investment excluding land cost and working capital.
Contact MSNA for your Thailand BOI, accounting and tax questions.