New BoI chief ups focus on new tax measures for agriculture-related projects

Corporate October 18, 2017 01:00

By The Nation

Duangjai Asawachintachit, the new secretary-general of the Board of Investment (BoI), said on Tuesday that she would focus more on providing additional tax measures for agriculture-related investments.

New agriculture-related businesses will be added to the list of businesses that are eligible to enjoy tax support, such as the designers of automated farming systems, she said. 

Duangjai added that she had already held discussions with “smart” farmers to gather their ideas for tax incentives specifically designed for the sector.

The additional measures are expected to be introduced soon. 

Currently, approved investments in the food-processing sector enjoy a five-year waiver of corporate tax, while those in the medical-food and functional-food business benefit from a maximum corporate-tax holiday of eight years.

Moreover, the BoI will propose to its board next month a whole new range of tax packages to promote investment in the Eastern Economic Corridor, replacing the current tax privileges available for projects there, the agency chief said.

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