The Competitiveness Enhancement Act came into force
14 Feb 2017
On 14 February 2017, the Competitiveness Enhancement Act came into force aimed at promoting investment in R&D, advanced technology and innovation. The Act exempts qualifying firms’ from corporate income tax for up to 15 years and establishes a matching fund of THB 10 billion to jointly invest in R&D, technology and innovation development, and human resource development in 10 targeted industries (e.g. Next-Generation Automotive, Smart Electronics, Bio-Energy and Bio-chemicals).
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Type:
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Promotion and facilitation (Investment incentives)
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Industry:
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Primary (Agriculture, forestry and fishing)
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Manufacturing (Manufacture of food products, beverages and tobacco products, Manufacture of chemicals and chemical products, Manufacture of computer, electronic and optical products, and electrical equipment, Manufacture of machinery and equipment n.e.c., Manufacture of transport equipment, Other manufacturing)
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Services (Scientific research and development, Human health activities, Arts, entertainment and recreation)
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Sources:
