Govt. will consider tax exemption to affected producers
The flood-suffered companies locatednin Ayutthaya and Pathum Thani provinces still have to wait for more incentives they will get to offset loss from flooding as the Board of Investment's board of directors meeting on November 25 did not approve the exem
Wannarat Charnnukul, Industry Minister and vice chairman of the BoI's board of directors, said BoI's directors would like to consider the tax loss in many scenario if BoI waives the corporate income tax for the suffered investors. The numbers of years that these investment projects will be received the tax exemption are still under consideration as well. BoI and the Customs Department will work out the tax loss and propose the information to the next meeting.
There are 937 manufacturing plants located both inside and outside the industrial estates in Ayutthaya and Pathum Thani provinces with a combined investment value of Bt700 billion.
The corporate tax exemption is another issue that flood-hit investore are waiting from BoI. The Finance Ministry, which is also chaired the seat in BoI's board of directors in the previous meeting, objected the idea to waive the corporate income tax as it does not want to have more burden and lose revenue from tax amid the situation that Thailand needs a lot of money to restore the infrastructure and construct the flood-protection system.
