Bangkok:The Board of Investment (BOI) is implementing measures to support businesses affected by recent flooding, focusing on tax incentives to aid recovery. These incentives include exemptions from import duties on machinery needed to replace damaged equipment and permission to write off damaged machinery and raw materials without incurring tax liabilities. The goal is to help entrepreneurs quickly resume operations.

According to Thai News Agency, Mr. Narut Teodsathirasak, Secretary-General of the BOI, stated that these measures, known as the 'Measures to Assist Investment-Promoted Businesses Affected by Floods,' have been in effect since 2024. They encompass three main areas exemption from import duties on replacement machinery, write-off of damaged equipment and materials, and permission to increase production capacity with new machinery.

The BOI is committed to assisting investment-promoted companies by providing guidance and facilitating the application process for these tax measures. Businesses must be located in an area declared a flood disaster zone and submit evidence of damage within six months after the flood situation concludes.

Businesses seeking these benefits can contact the BOI headquarters for more information via phone at 02-553-8111, email at [email protected], or Line ID @boinews.