Smaller charging stations will now be eligible for three years of tax benefits, an additional incentive on top of the five-year corporate income tax exemption available for investments in charging stations.
Thailand has expanded incentives to promote the use of electric vehicles (EVs), the Investment Promotion Agency said on Thursday, as the country seeks to maintain its status as a major Southeast Asian auto production hub.
Smaller charging stations will now be eligible for three-year tax benefits, an additional incentive on top of the five-year corporate income tax exemption available for investments in charging stations with at least 40 chargers, said Duangzai Unwantedchit (BOI), head of the investment board. told in a press conference.
He said that a condition preventing investors from getting additional benefits from other agencies and the requirement of ISO certification has also been removed.
The revised measures are “to ensure that our incentives remain relevant in the rapidly changing business environment,” she said.
Thailand is encouraging consumers to move to EVs, with the goal of ensuring that 30% of its total auto production output is EVs by 2030.
Duangzai said that in the January-March period, total foreign and Thai investment applications, including the auto industry, were worth 110.7 billion baht ($3.3 billion), up 6% from a year earlier due to global geopolitical and economic challenges. is less.
However, foreign investment pledges alone rose 29% to 77.3 billion baht in the January-March period, with Taiwan, Japan and China being the top three investors, she said.
Among the targeted industries, the auto sector tops with an investment value of 41.6 billion baht, followed by agriculture and food processing with 12 billion baht and electronics with 10.3 billion baht.
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