CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Tax Break To Spur Research And Development In Thailand

Tax Break To Spur Research And Development In Thailand

by Mary Swire, Tax-news.com, Hong Kong

20 March 2014


Together with the Ministry of Science and Technology and the Revenue Department, Thailand's National Science and Technology Development Agency (NSTDA) has launched an online expense certification service to help businesses to qualify for the 200 percent research and development (R&D) tax deduction.

The NSTDA believes that, so far, only a small proportion of the companies with R&D investments have requested tax exemptions, and that the main reason for their reticence is the inconvenience of the present system and concerns over whether their details would remain confidential.

With the availability of the online system that is "fast, provides data security, and is convenient and easy to monitor, with follow up and support," many more businesses are expected to claim the tax break. The new system will, in fact, reduce the time taken to approve a project to 1 or 2 months.

The NSTDA hopes the system will bolster the Government's policy of tripling R&D to around 1 percent of gross domestic product, or THB130bn (USD4bn), within the next three years.

TAGS: tax | business | tax incentives | corporation tax | Thailand | tax breaks | research and development

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »