Thailand’s cabinet has approved a proposal to reduce the corporate income tax rate to 10% for profits generated by targeted businesses in the country’s special economic zones. The reduced rate applies for 10 consecutive accounting periods.
To benefit from the reduced tax rate, the eligible income must be generated from goods or services originated in the special economic zones. Additionally, the business in the special economic zone must be a permanent building.
Thailand has 10 special economic zones which are located in the border areas of the country namely Tak, Chiang Rai, Kanchanaburi, Mukdahan, Narathiwat, Nakhon Phanom, Nong Khai, Sa Kaeo, Songkhla, and Trat.
