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Hefty Tax Breaks to Lure Companies to Thailand.
Dec. 12--For many months, the government has come under fire overseas for its uncertain policy on foreign investors.
Its response yesterday was to announce wide-ranging tax breaks and incentives aimed at attracting foreign firms to establish regional headquarters in Thailand.
Finance Minister Somkid Jatusripitak said the new package was part of the government's aim to balance the country's reliance between local and foreign investment.
He said the package offered the most sweeping incentives in the region to firms to set up regional operating headquarters in Thailand, outstripping measures offered by both Singapore and Malaysia.
Under the new programme, regional headquarters operating in Thailand will qualify for a 10 percent corporate tax rate, just one-third of the standard rate currently charged.
Interest earnings and revenue from research and development in Thailand will also be charged at 10 percent . Taxes on dividends paid to the headquarters by domestic and foreign subsidiaries will be waived.
Taxes on dividends paid by the headquarters to its overseas parent firm are also waived.
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