IPO and the care of elderly and clinical research
Keywords: Mazars, Thailand, Legal, BOI, IPO, CIT, CRO, CRC, Elderly and clinical research
23 March 2021
Details are as follows:
Business categories | Key incentives |
7.28.5 Hospital for the elderly | A3 – Exemption from CIT for 5 years. |
7.28.6 Nursing homes for the elderly and dependent people | A4 – Exemption from CIT for 3 years only for revenue derived from a service providing residence to and care for the elderly. |
7.37 International Procurement Office (IPO) | B1 – No corporate income tax incentive |
7.38 Clinical Research | |
7.38.1 Contract Research Organization (CRO) | A1 – Exemption from CIT for 8 years |
7.38.2 Clinical Research Center (CRC) | A1 – Exemption from CIT for 8 years |
(*) CIT = Corporate income tax |
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A company interested in applying for a BOI certificate under the reinstated IPO must meet the following criteria:
- Must procure raw materials, parts, and components used in the manufacturing process.
- Must own or rent a warehouse operated by a specific warehouse management system.
- Must conduct procurement activities under adequate management, i.e., quality control of products and packaging.
- Must procure products from various sources, but from at least one domestic source.
- Must be a business wholesaling in Thailand and / or exporting.
- Must have registered capital of at least THB 10 million.
- Not eligible for merit-based incentives.
Reference: BOI’s website