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Legal and Tax Updates
This page is more than 2 years old. Please visit the Legal and Tax Updates page for the latest from DFDL.

Thailand Legal Update: Eastern Economic Corridor

May 2 2018
Written by Ramandeep Bhamra

A BOI announcement on 12 March 2018 has promoted Chachoengsao, Chonburi, and Rayong Provinces as part of the development of the Eastern Economic Corridor (EEC), a pilot project to encourage increased economic development across Thailand’s Eastern Seaboard. Over the past 30 years, these three provinces have been developing to keep up with the fast growing industries situated there.

While the EEC area covers just 13,000 square kilometers, the government has launched measures to support and accelerate economic growth in the EEC. This includes  the development of public utilities, transportation systems, logistics, human resources, and investor facilitation in the form of a One-Stop Service Center.

The BOI announcement will incentivize investors engaging in eligible activities in these three provinces as follows:

A – Specific activities zones:

  • Eastern Airport City (EEC-A);
  • Eastern Economic Corridor of Innovation (EEC-I); and
  • Digital Park Thailand (EEC-D);

B – Targeted industries zones; and

C – Promoted industrial estates or industrial zones.

Following this announcement, additional tax incentives will be granted to investors established in these three provinces:

Zone A: Extended corporate tax exemption (additional two years) and additional corporate income tax reduction of 50% for five years;

Zone B: Additional corporate income tax reduction of 50% for five years; and

Zone C: additional corporate income tax reduction of 50% for three years.

DFDL Contact

Suradech Hongsa

Senior Legal Adviser

suradech@dfdl.com

Ramandeep Bhamra
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