To encourage Thai companies to invest in energy-efficient machinery and alternative-energy projects, the Board of Investment (BoI) is offering three-year waivers on machinery import duties and a 70-per-cent reduction in corporate income tax.
To be eligible, companies must belong to industries promoted by the BoI, and submit a report showing that the new machinery will reduce energy consumption by at least 70 per cent.
"We are inviting all [eligible firms] that are planning to purchase new machinery to participate. Aside from increasing your profits, you're helping the country through such energy-saving projects," said Twarath Sutabutr, deputy director-general of the BoI's Alternative Energy Development and Efficiency Department.