BOI approved a series of measures to mitigate the impact of the coronavirus or COVID-19 outbreak on business, including steps to encourage rapid investment in the manufacturing of medical equipment.
The measures approved include the following: Accelerate investments in the medical sector.
- Apart from the 3 to 8 year tax holidays, a reduction of 50 percent of corporate income tax for an additional 3 years will be given to qualified investments in the medical sector.
- A measure to support the adjustment of existing production lines to manufacture medical devices or parts by exempting import duties on machinery.
- Adjustments to the benefits granted for the production of raw materials used in the manufacture of medical products to encourage a more complete value chain in Thailand.
Source : https://www.boi.go.th/index.php?page=press_releases_detail&topic_id=125042
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