BOI Continues to Encourage Promoted Companies to List on SET or MAI

The Board of Investment (BOI) continues to call on promoted companies to list on either the Stock Exchange of Thailand (SET) or Market for Alternative Investment (MAI) in order to enjoy an additional 100% Corporate Income Tax (CIT) exemption on the investment value (excluding cost of land and working capital).

This is following last year’s Board of Investment Announcement No.2/2014 to persuade companies to be listed on the SET or MAI. The announcement, by virtue of sections 16, 18 and 31 of the Investment Promotion Act B.E. 2520, allows projects that have been granted BOI promotional privileges to enjoy rights and benefits under this measure, notwithstanding that they have already begun generating income.

The BOI aims to develop new entrepreneurs and increase accessibility to funding.

Application for the exemption of CIT may only be granted after companies have been listed on the SET or MAI. The date of listing being the date on which either of the exchanges order the company’s ordinary shares to be listed. The application for the exemption must be submitted by the last business day of 2022.

The announcement is effective as of 10 February 2021. Companies who were already listed on the SET or MAI prior to the commencement of the announcement are not eligible to apply for the privileges under this measure.

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