The BOI is encouraging manufacturing and services businesses to adopt digital technologies with the following significant conditions:
- Must be existing projects, either BOI or non-BOI promoted, activities of which must be eligible for CIT exemption.
- Investment of not less than 1 million baht (excluding cost of land and working capital).
- Must propose a digital technology adoption plan, with no requirement for investment in machinery or equipment
- Employing digital software or information technology in resource management.
- Implementing Artificial Intelligence (AI) and Machine Learning.
- Adopting Big Data Analytics.
- Employing digital software or information technology in accessing the National e-Payment System.
Promoted activities will enjoy a 3-year corporate income tax (CIT) exemption, accounting for 50% of the investment in improving productivity.
Qualified projects must submit applications within the last working day of 2022.
**The measure is yet to be announced, we will keep you updated on the announcement**
For more information, please contact: Interloop Solutions & Consultancy
Tel. +66(0) 97-106-9113
Line ID: @inlps
Source: Bangkok Post