Thai Digital Economy is Becoming a Reality

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BOI in cloud computing Thailand

Telecommunication infrastructure, broadcast infrastructure, and information technology – all are gradually shaping up the Thai Digital Economy. Thailand’s constant efforts in developing a strong base for digital infrastructure are evident from a variety of incentives.

Supporting the government’s digital policy, the Board of Investment has modified Activity 7.9.2.3 Data Center. Additionally, it has added Activity 7.10 Cloud Service to promote digital hard infrastructure expansion in the country. This will help in serving user needs, and reinforces the stability of the infrastructure network.

Similarly, the development can also facilitate socioeconomic activities. This is to support the foreign investors willing to invest in Thailand in the Information and Communication Technology. It can be businesses like cloud services, data centers, software applications, and telecommunication joint-ventures. High-speed telecommunication networks will benefit investors who are interested in other businesses.

What Incentives can You Expect for a Cloud Service Business?

The BOI is offering a wide range of investment promotion incentives to the projects. Furthermore, this will help realize the government’s vision for the Thai digital economy. According to the BOI’s cluster policy, the businesses that make use of advanced technologies belong to the SuperCluster group. And the cities that fall under this group are Phuket and Chiang Mai and the activities eligible are software, cloud services, software, data centers, movie towns, Thai motion picture production, motion picture supporting services, and software parks.

However, the Board of Investment provides both tax and non-tax incentives.

Moreover, tax-based incentives includes –

  • 8-year corporate income tax exemption without the cap plus a 5-year reduction of 50%.
  • Exemption on import duty on machinery.
  • The Ministry of Finance is likely to consider granting of 10-15 years of CIT exemption.

On the other hand, the non-tax incentives include permanent residence grant to a specialist as well permission to foreigners to own land in Thailand.

All these features and benefits of getting involved in Thai Digital Economy can allure you to contribute in the process. If you are willing to open a digital company in Thailand, we can help you. Therefore, mail us at officer@konradlegal.com to book your consultation session.

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