Thailand lifts tax exemption caps on promoted firms that list

Companies promoted by Thailand’s Board of Investment (BOI) can have their caps on income tax exemptions lifted by listing on The Stock Exchange of Thailand (SET) or the Market for Alternative Investment (MAI), according to a Memorandum of Understanding signed today (August 24, 2009) between SET and BOI. “The targeted businesses include agricultural and food companies, light industries with low investment but high returns, and heavy industries that need capital investment but cannot depend on its overseas mother companies. These additional listings will raise the market capitalization of the Thai bourse and strengthen Thai industry,” said SET President Patareeya Benjapolchai.