Page 38 - Introduction to Investment Laws in Thailand

(3) rights and benefits as regards subsidies from the fund.
It shall be the power and duty of the Policy Commission
to approve the granting of rights and benefits under
paragraph one.

In granting rights and benefits under paragraph one,
each promoted person may be granted different rights and
benefits. In this regard, there shall be taken in account the need,
worthiness and usefulness of the promotion and development of
targeted industries of the country.

For the purpose of the execution of this Act, the
provisions of Chapter III, Rights and Benefits, and Chapter IV,
Machinery, Raw Material and Necessary Articles, under the law
on promotion of investment shall apply to the approval of the
granting of rights and benefits under (1) mutatis mutandis and it
shall be deemed that the powers and duties of the Board of
Investment are the powers and duties of the Policy Commission
under this Act

Section 24. The promoted person may be granted
exemption from corporate income tax on net profits acquired
from the operation of business in the targeted industry for a
period of time determined by the Policy Commission, provided
that it shall not exceed fifteen years as from the date on which
income begins to be generated from the operation of such
business. In this regard, the Policy Commission may also grant
exemption from corporate income tax in proportion to the money
invested excluding the value of land and the revolving fund.

The income for the purpose of calculation of net profits
acquired from the operation of business shall include income
from the distribution of by products and income from the
distribution of semi ready-made goods as the Policy Commission
may deem appropriate.

In the case where the operation of business generates
loss during the time of the exemption from corporate income tax

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