The Board of Investment prescribes additional tax incentives offered to encourage the development of skills, science technology, and innovation under the STI (Skill, Technology and Innovation) scheme, to which the following criteria are applied.

The following additional tax incentives will be granted:

• Corporate income tax exemption in addition to those received on the basis of the Board of Investment Announcement No. 1/2543 and 2/2543; however, the total duration of corporate income tax exemption shall not exceed 8 years, as follows:
• Exemption from corporate income tax for additional one year will be granted if there are investments of expenditures in research and development or design, in advance technology training, in supporting an educational or research institution or by way of donation to Technology and Human Resources Development Fund, provided that such investments or expenditures are not less than 1 percent of the revenue from the investment project in the first 3 years, or not less than 150 million Baht, whichever is less;
• Exemption from corporate income tax for additional two years will be granted if there are investments or expenditures in research and development or design, in advance technology training, in supporting an educational or research institution or by way of donation to Technology and Human Resources Development Fund, provided that such investments or expenditures are not less than 2 percent of the revenue from the investment project in the first 3 years, or not less than 300 million Baht, whichever is less.
• Exemption from corporate income tax for additional three years will be granted if there are investments or expenditures in research and development or design, in advance technology training, in supporting an educational or research institution or by way of donation to Technology and Human Resources Development Fund, provided that such investments or expenditures are not less than 3 percent of the revenue from the investment project in the first 3 years, or not less than 450 million Baht, whichever is less.

Projects granted STI incentive approval and meeting the applicable conditions will not be subject to the corporate income tax exemption cap.

Exemption of import duties on machinery for all zones

• Investments or expenditures by the promoted person to develop Skill, Technology & Innovation can be made throughout the duration of corporate income tax exemption.
• Projects must submit an STI application anytime before the corporate tax exemption period expires if they have already been granted corporate income tax exemption under Section 31 and are already generating income. Projects that are not eligible for corporate income tax exemption and that want to apply for STI incentives are required to submit their STI applications at the same time they submit the BOI application
• The promoted person shall apply for the aforementioned rights and privileges according to the criteria prescribed by the Office of the Board of Investment.