The Thai Government has presented a resolution to extend the period for the promotion of business operations in the Specific Economic Development Zone (SEZ), with a number of concessions for the accounting years 2018 – 2020:
– A reduction of personal income tax rate to 0.1% of assessable income.
– A reduction of the corporate income tax to 3% of net profit.
– A reduction of the personal income withholding tax rate to 0.1% of assessable income on the sale of immovable property situated within the SEZ.
– A reduction of the specific business tax rate to 0.1% on the sale of immovable property situated in the SEZ.
In addition, the Cabinet has confirmed that for accounting periods 2016 to 2020, a double deduction can be claimed by individuals, companies or juristic partnerships on the purchase and installation of CCTV systems.