Overview of
Board of Investment (BOI)
BOI (Board of Investment) is an agency responsible for promoting investment in Thailand. Its role is to support and encourage both domestic and foreign investors by providing various benefits and incentives, such as tax benefits and non-tax incentives. The goal is to attract and foster investment that is crucial for Thailand’s economic development, create jobs, and enhance the efficient use of the country’s resources.
Our Services
V Manufacturing and Advisory is a leading provider of comprehensive services for companies seeking growth and expansion in Thailand. We specialize in consulting and management to secure Thailand Board of Investment (BOI) promotions, helping businesses maximize benefits, reduce costs, and explore growth opportunities. Our extensive range of services includes
BOI
Registration
Assistance with the application and registration process
Tax
Advisory
Expert guidance on tax-related matters with BOI
BOI Investment
Management
Support in managing and optimizing BOI investments
Machinery and
Raw Materials Import
Facilitation of importing essential machinery and materials
BOI Work Permit for
High-Skilled Workers
Assistance in obtaining work permits for skilled foreign professionals
BOI
Audit Readiness
Services for financial statements and BOI-related business activities
Comprehensive
BOI Services
There are many benefits to applying for investment promotion of BOI
The Benefit of BOI Investment Promotion
At VMA, we understand the transformative power of investment promotion under the Board of Investment (BOI). By applying for BOI investment promotion, you can unlock a multitude of benefits designed to enhance your business. From tax incentives to various support services, we are here to guide you through the process and maximize your opportunities.
Tax Incentives
- Exemption or reduction of corporate income tax for a specified period
- Exemption from import duties on machinery and draw materials
Non-Tax Incentives
- Permission to own land
- Facilitation of work permits and visas for foreign employees
- Investment support through various grants and subsidies
Operational Benefits
- Streamlined and expedited approval processes
- Access to infrastructure and logistics support
- Assistance with regulatory and administrative procedures
Additional Support
- Support for research and development activities
- Access to investment and business networks
- Promotion of technology transfer and innovation
Here are
10 Industries that can benefit
from policy support from Thailand's BOI (Board of Investment):
Information and Communication
Technology (ICT)
Includes software development, data centers, and digital services technology (ICT)
Energy and Renewable Energy
Covers the production of energy from renewable sources such as wind, solar, and biomass
Agriculture and Food Industry
Includes the production and
processing of agricultural
products and food
Automotive Industry
Involves manufacturing and
assembling vehicles, including electric and hybrid cars
Biotechnology and
Pharmaceuticals
Encompasses biotech research, drug development, and pharmaceutical manufacturing
Advanced Manufacturing
and Robotics
Includes software development,
data centers, and digital services
Medical Devices and
Health Technology
Includes the development and production of medical equipment and health technology
Tourism and Hospitality
Involves the development of
tourist attractions, hotels,
and related services
Logistics and Transportation
Covers infrastructure and
services for efficient logistics
and transportation
Creative Industries and Media
Includes sectors such as film
production, animation,
and digital media
Other selected benefits from BOI investment promotion
Duty Exemptions: Projects with BOI investment promotion producing goods for export can import raw materials and essential materials duty-free
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These materials must be used exclusively in the promoted project and for products listed in the promotion certificate
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They must be exported for sale abroad
Domestic Use: If raw materials are used domestically or cannot be exported
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Import duties must be paid as per conditions at the time of import
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Additional charges, penalties under customs law, and VAT must also be paid
BOI audits can be complex and stressful, VMA's BOI audit readiness services will help you prepare effectively for the process
We assist you in preparing for your BOI audit. Our services include, but are not limited to, the following:
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Request for BOI Promotion Certificate: We handle the request for your Promotion Certificate and provide a detailed analysis of the conditions and benefits associated with each certificate.
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Machinery Details: We compile and present detailed information on machinery, including a summary of movements (beginning balance, additions, deductions, and ending balance) for each Promotion Certificate, to review import duty and tax exemption benefits.
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Comparison of Machinery Investment Details: We compare the specifics of additional machinery investments with the details provided in your tax exemption application to ensure consistency.
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Comparison of Production Capacity: We compare the production capacity stated in your Promotion Certificate with actual production quantities to confirm alignment with your corporate income tax exemption application.
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Sales Volume and Value Verification: We verify that your sales volume and value meet the conditions of the Promotion Certificate and do not exceed the granted rights, ensuring effective utilization of corporate income tax exemptions.
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Investment Condition Verification: We ensure that your investment conditions—such as land, factory, machinery, and workforce meet the requirements specified in the Promotion Certificate.
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Stock Count Observation: We assist in observing the annual stock count for both BOI and non-BOI goods.
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Audit Report Preparation: We prepare the auditor’s report needed for your corporate income tax exemption benefits application.
VMA is best positioned to help you maximize your BOI-related benefits
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Expertise in BOI Policies and Processes:
Benefit from our deep understanding of BOI investment promotion policies and procedures, ensuring you navigate the complexities effectively to secure the maximum cost savings.
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Tailored Solutions:
Receive customized strategies and solutions designed specifically for your business needs, maximizing the benefits from your BOI investment.