Incentives considered to pave way for startups

The government is considering using tax incentives to support the growth of startups, says Finance Minister Arkhom Termpittayapaisith.

He said the measure could be either an income tax reduction or an income tax exemption for Thai and foreign venture capital funds that invest in startups. The Revenue Department is working out the details of the plan.

The government introduced new tax incentives and measures this year to promote local businesses and ensure fair treatment in the tax system, as well as to boost the country’s revenue.

One new tax introduced this year is the e-service tax, which became effective from September.

This law stipulates foreign electronic service providers and electronic platforms that receive income of more than 1.8 million baht per year…