Thailand Business News – “BOI Introduces Five Key Strategies to Address Challenges from Trump-Era Tariffs in Thailand”

Thailand’s Board of Investment (BOI) has introduced five strategic measures to counter the impacts of US tariffs and the ongoing global trade war. These initiatives aim to enhance the competitiveness of Thai businesses while strengthening local supply chains.

One key initiative is the enhanced support for small and medium-sized enterprises (SMEs). Corporate income tax exemptions for SMEs investing in modernization, automation, and digital technology have been extended from three to five years. This extension includes a full exemption for investments aimed at improving operational efficiency.

Additionally, a 50% corporate income tax reduction for two years is available for electric vehicle (EV) and appliance manufacturers that comply with specific local content requirements, which are set at 40% for battery electric vehicles (BEVs) and 45% for plug-in hybrid electric vehicles (PHEVs).

The BOI is also shifting its focus by discontinuing promotions for certain low-tech and oversupplied industries, including solar panels and automotive accessories. This realignment aims to direct investment towards more impactful sectors, ensuring sustainable growth for Thailand’s economy amidst global uncertainties.