The Thailand Board of Investment (BOI) has approved a series of measures to encourage more investment in research and development (R&D) and engage the industry more actively in human resource development (HRD). Enhanced incentives are also offered to attract investment in the growing semiconductor, digital and packaging industries.
As Thailand is aspired to become more innovation-driven, private sector R&D plays a very significant role. In order to encourage companies to step up their R&D, the BOI has proposed to the board that projects that invest or spend at least THB200 million or 1% of their total sales of the first three years be entitled to a longer tax breaks (maximum 13 years) with no corporate income tax exemption ceiling. The number of additional years of tax holidays depends on the amount of R&D spending/investment. Moreover, companies that participate in apprenticeship…
