16-year tax breaks for companies investing in southern borders

BANGKOK, Nov 30 (TNA) – The Board of Investment of Thailand (BOI) yesterday approved a new set of concessions which will allow businesses investing in the country's three southern border provinces of Yala, Narathiwat and Pattani to enjoy 16 years of tax-free status.

The measures, announced by Industry Minister Pongsak Ruktapongpisal, will encourage investment in the three southern border provinces, which have been most affected by the southern insurgency since early this year.

Under the new measures, businesses investing in industrial estates or special industrial zones in the three provinces – whether existing investors or new business coming to the region before 31 December 2007 – will enjoy an extra eight years of freedom from income tax, on top of the eight years already offered.

“We expect that these new measures will serve to encourage more investment, as this is the highest concession that the BOI has ever offered”, the industry minister said.

However, he warned that the region had continued to suffer from labour shortages, and said that it was up to the private sector to redress this problem.

Other incentives will be considered by the various agencies involved, with the Ministry of Finance likely to consider value added tax (VAT) and excise tax concessions, while the Department of Insurance will offer insurance for investors and their property.

The Provincial Electricity Authority (PEA) is likely to offer a 20 percent reduction on fuel bills, and the Industrial Estate Authority of Thailand (IEAT) will provide infrastructure for the Halal Industrial Estate.

--TNA 2004-11-30

16-year tax breaks for companies investing in southern borders

BANGKOK, Nov 30 (TNA) – The Board of Investment of Thailand (BOI) yesterday approved a new set of concessions which will allow businesses investing in the country's three southern border provinces of Yala, Narathiwat and Pattani to enjoy 16 years of tax-free status.

The measures, announced by Industry Minister  Pongsak Ruktapongpisal, will encourage investment in the three southern border provinces, which have been most affected by the southern insurgency since early this year.

Under the new measures, businesses investing in industrial estates or special industrial zones in the three provinces – whether existing investors or new business coming to the region before 31 December 2007 – will enjoy an extra eight years of freedom from income tax, on top of the eight years already offered.

“We expect that these new measures will serve to encourage more investment, as this is the highest concession that the BOI has ever offered”, the industry minister said.

However, he warned that the region had continued to suffer from labour shortages, and said that it was up to the private sector to redress this problem.

Other incentives will be considered by the various agencies involved, with the Ministry of Finance likely to consider value added tax (VAT) and excise tax concessions, while the Department of Insurance will offer insurance for investors and their property.

The Provincial Electricity Authority (PEA) is likely to offer a 20 percent reduction on fuel bills, and the Industrial Estate Authority of Thailand (IEAT) will provide infrastructure for the Halal Industrial Estate. 

--TNA 2004-11-30

<{POST_SNAPBACK}>

The peace and quiet of the deep south of Thailand Sounds good

Unless you're Muslim, who the &lt;deleted&gt; in their right mind would even contemplate investing in the South...???

Might as well offer no tax EVER, a free BMW and a never ending supply of Johnny Walker, you'd still get no takers!

Mmmmmmm!