BoI officially approves remedial measures
The Board of Investment (BoI)'s board of directors on Monday approved some remedial measures for flood-hit manufacturers, excluding the proposed 8-year waiver on corporate income tax which is pending for the Finance Ministry's approval.
The board held the meeting today for the first time in the Yingluck government.
According to Kittirat Na-Ranong, Deputy Prime Minister and Commerce Minister, as chairman of the BoI, the board's resolution covered the waiver of import tariffs for replacement machinery.
On the proposed tax holiday, he said "The members of the board required more information as this is a big issue".
Finance Minister Thirachai Phuvanatnaranubala is also a member of the board. A source said that the ministry considered that these affected plants are covered by insurance and that limited budget should better be allocated for investment in infrastructure.
The BoI board also gave a nod to the relocation of bonded raw materials from the prescribed sites.
Meanwhile, the Industry Ministry on Monday won approval for 4 out of 10 proposals to rehabilitate industrial estates from the Flood Recovery and Restoration Committee on Economy, Industry and Livelihood chaired by Kittirat. Totally, the 10 proposals will require a budget of Bt427 million, but the four projects will require Bt147 million. They would be forwarded for the Cabinet's endorsement on Nov 8.
According to Industry Minister Wannarat Charnnukul, some of the unapproved projects included the measures to rehabilitate the environment in communities near inundated industrial estates.
