EXAMPLE

Section 1: Agriculture and Agricultural Products

1.11Manufacture or preservation of food ingrediants, using modern technology.

1.11.7 manufacture of beverages from plants vegetables or fruits (Except grog etc)

Above is classified as a priority activity and will receive exemption from machinery import duty and corporate income tax exemption for a period of 8 years.

2)promoted projects will not be subject to the cap on the amount of corporate income tax exemption specified in paragraph 2 of section 31

Above is from the BOI web site.

Does this mean that a new foreign business setting up in this industry is exempt from corporate tax for 8 years.

I find that hard to believe.

does anybody know?

Above is classified as a priority activity and will receive exemption from machinery import duty and corporate income tax exemption for a period of 8 years

2)promoted projects will not be subject to the cap on the amount of corporate income tax exemption specified in paragraph 2 of section 31

Above is from the BOI web site.

Does this mean that a new foreign business setting up in this industry is exempt from corporate tax for 8 years.

Yes. It is up to the BOI and the project( where located) but this is not unusual.

www.sunbeltasiagroup.com

Above is classified as a priority activity and will receive exemption from machinery import duty and corporate income tax exemption for a period of 8 years

2)promoted projects will not be subject to the cap on the amount of corporate income tax exemption specified in paragraph 2 of section 31

Above is from the BOI web site.

Does this mean that a new foreign business setting up in this industry is exempt from corporate tax for 8 years.

Yes. It is up to the BOI and the project( where located) but this is not unusual.

www.sunbeltasiagroup.com

cheers.