Thailand has published Royal Decree No. 690, which allows 50% deduction for investments in machinery between 1 September 2019 and 31 May 2020, with following conditions:

  • The machinery is located in Thailand
  • The machinery has to be unused and ready for use by 31 December 2020;
  • The machinery is a depreciable asset under general income tax regulation;
  • The machinery is not be entitled for any other tax incentive; and
  • The machinery is not used in a business that is exempt from corporate income tax.

Companies are required to comply with the above mentioned requirements and must provide the details of the investment project to the tax authority.