Bangkok--25 Aug--SET
Companies promoted by Thailand’s Board of Investment (BOI) can have their caps on income tax exemptions lifted by listing on The Stock Exchange of Thailand (SET) or the Market for Alternative Investment (mai), according to a Memorandum of Understanding signed today (August 24, 2009) between SET and BOI.
“The targeted businesses include agricultural and food companies, light industries with low investment but high returns, and heavy industries that need capital investment but cannot depend on its overseas mother companies. These additional listings will raise the market capitalization of the Thai bourse and strengthen Thai industry,” said SET President Patareeya Benjapolchai.
“Companies seeking to list under this action plan will be promoted and received a complete tax privileges. The companies, therefore, can allocate more returns from obtained profit to shareholders” added Ms. Patareeya.
“This action plan will facilitate every business of BOI-promoted firms seeking to list on SET or mai to have the cap on income tax exemptions lifted, from previously having the cap on income tax exemption equaled to the size of the investment project. This plan will benefit potential businesses and help create higher profit than the requesting investment capital amount. To encourage potential business to list during this economic crisis, the plan will be effective from now on until December 31, 2012, which is in line with the economic stimulus plan 2,” reported Ms. Atchaka Sibunruang Brimble, BOI Secretary General,
Promoted projects that already received promotional plan and generating revenues will still be able to apply for privileges of this plan so long as their tax exemption period has not expired. Companies must apply to BOI within December 31, 2012. There is no limitation on the number of the projects eligible to receive benefits under this plan.
Companies that are already listed on SET or mai cannot apply for the plan, but can have their subsidiaries or associated companies to apply and be listed on SET or mai to receive the plan’s privileges.
SET and BOI will shortly hold roadshows to promote this plan, focusing on firms located in industrial estates. The roadshows will start in the east, followed by the central and northern regions.
For more information, please call the BOI Investment Service Center at 0 2537 8111 ext. 1100-1108 or visit www.boi.go.th. For information on listing preparations, please contact 0 2229 2022-33 or visit www.set.or.th or www.mai.or.th.
For more information, please contact S-E-T Call Center 0 2229 2222
Press office, please contact Public Relations Unit, the Corporate Communications Dept.: Ladawan Kantawong Tel: 0-2229-2036 / Kanokwan Khemmalai Tel: 0-2229-2048 / Panitee Chatpolarak Tel: 0-2229-2792