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In order to prepare itself for the new digital economy and maintain the rapid level of startups growth, particularly in Fintech, Food Tech and e-commerce, the Thai government has developed a large scale program. This aims to produce a digital economy framework around four areas of development: digital commerce, digital entrepreneur, digital innovation, and digital content.
Thailand Board of Investment (BOI) offers a wide range of tax and non-tax incentives for projects that meet these national development objectives. Non-tax incentives include permission to bring in expatriates, own land and take or remit foreign currency abroad. Tax-based incentives include exemption of import duties on machinery and raw materials used in manufacturing export products, and corporate income tax exemption of up to eight years. As part of its efforts to help develop the Digital Economy, the Board of Investment (BOI) offers attractive investment promotion incentives to a range of activities involved in activities related to the Digital Economy that are classified as activities of special importance and benefit to the country. A range of projects are granted corporate income tax exemptions, while other projects receive exemptions on import duty.
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