BOI Cease Granting Investment Promotion for IHQ and ITC and Promotes IBC Scheme

Tax & Legal Alert : December 2018 / Thailand

On 11 December 2018, the Board of Investment (BOI) has ceased to grant investment promotion for the business of an International Headquarters (IHQ) and International Trading Centers (ITC) and introduced the scheme of International Business Center (IBC) in accordance with the government’s policy to promote IBC activities in Thailand.

Applicants who are interested in an IBC activity may apply for investment promotion from 11 December 2018 onwards.

Applicants who wishes to receive investment promotion for an IBC activity must have a registered capital of not less than THB 10 million and employ personnel with the knowledge and skills for the IBC activity of not less than 10 person (or 5 person if the activity will be only a treasury center), whereby the BOI will consider from the positions and nature of work of the personnel to consider the qualification of such personnel. Additionally, the IBC must also provide services to at least 1 associated enterprise in foreign country in various activities e.g., organizational administration, management and business planning and sourcing of raw materials and parts for instance. The IBC applicant could also conduct international trading activities as well.

(1) Summary of IHQ/ITC and IBC Scheme
(2) Deloitte’s Observations


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>> Click for Japanese [タイ国投資委員会(BOI)による投資奨励制度の改正(IHQ及びITCからIBCへ)]

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* This Article is based on the relevant Japanese or specific country’s tax law and other authorities in effect on the date of this Article. This Article would not be guaranteed updating if there are any changes in Japanese tax law, any other law, or interpretations by the courts or tax authorities thereof after the date of this Article.

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