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Golden future for emerging startups in emerging markets

12 May Golden future for emerging startups in emerging markets

Experts say that the emerging economies in Asia seem to become the spearhead of global economic recovery inspired by cyclical recovery in Europe and America (Bangkok Post of March 28, 2016, Asia Focus...
Juslaws & Consult Attends Board of Investment Paris Networking Meeting

12 May Board of Investment Paris Networking Meeting

Last Thursday 12th of May 2016, Juslaws & Consult (J&C) attended the Board of Investment Paris networking meeting at Subcon Thailand in Bitec (Bangkok). More than 40 French and Italian companies in t...
Company Formation

07 Mar Company Formation

Foreign Business License The application process for a foreign business license usually takes 60 days upon submission for a decision. The advantage is that, if the application is denied, the applicati...
Tax Incentive for New Start Up business in Thailand

Tax Incentive for New Start Up business in Thailand

On 21st April 2016, Royal Decree (No. 602), by the Government’s resolution, was promulgated in order to support and promote the Small and Medium Enterprises (“SMEs”) which uses technology and innovation in the target activities for driving an economy, building a strength and increasing the competitive ability of Thailand.

Thus, a corporate income tax exemption on profit derived from target activities for the five accounting periods will be provided to the company or juristic partnership which established between 1st October 2015 and 31st December 2016 with the registered paid-up capital on the last day of the accounting period of not more than THB 5 million and its income for the sale of goods and service must not exceed THB 30 million, moreover, not less than 80% of its total income must derive from the sales of goods and/or service in “New Engine of Growth” business or from the connected business thereof.

To be eligible for this exemption, the operator must register to be “New Start Up” with Revenue Department within 31st December 2017.

What is New Engine of Growth business?

New Engine of Growth business is the industrial business which technological base will be used for producing and providing service and those business shall be certified by National Science and Technology Development Agency (“NSTDA”). The following are the industrial businesses which are entitled to obtain the tax incentives.

  1. Food and Agriculture
  2. Saving energy, Producing of alternative and clean energies
  3. Biotechnology Base
  4. Medical and Public Health
  5. Tourism, Service and Creative Economy
  6. Advanced Materials
  7. Textile, Garment and Decorations
  8. Automotive and Parts
  9. Electronic, Computer, Software and Information Service
  10. Research, Development and Innovation or New Industrial

Below is the example of “technologies” which are based for producing and providing service in the target activities.

No. Technology Type of business which can be applied
1 3D Printing Technology/ Rapid Prototyoing

– Medical and Public Health

– Tourism, Service and Creative Economy

– Advanced Materials

– Automotive and Parts

– Research, Development and Innovation or New Industrial

2 Adsorption Technology

– Saving energy, Producing of alternative and clean energies

– Automotive and Parts

3 Advanced Bioprocessing Technology

– Food and Agriculture

– Saving energy, Producing of alternative and clean energies

– Biotechnology Base

– Medical and Public Health

4 Advanced Catalyst Technology

– Saving energy, Producing of alternative and clean energies

– Advanced Materials

5 Advanced Materials Forming Process

– Advanced Materials

– Electronic, Computer, Software and Information Service

– Automotive and Parts

6 Artificial Intelligence Technology

– Tourism, Service and Creative Economy

– Electronic, Computer, Software and Information Service

7 Automation Technology

– Medical and Public Health

– Automotive and Parts

– Food and Agriculture

– Electronic, Computer, Software and Information Service

8 Big Data Analytics Technology

– Biotechnology Base

– Electronic, Computer, Software and Information Service

9 Bio-Analytical

– Medical and Public Health

– Biotechnology Base

10 Biodegradable Materials Technology

– Advanced Materials

– Medical and Public Health

11 Bioinformatics

– Food and Agriculture

– Biotechnology Base

12 Biomaterial Production Technology

– Medical and Public Health

– Biotechnology Base

13 Cell Culture and Tissue Engineering Technology

– Medical and Public Health

– Biotechnology Base

14 Cleaner Technology

– Saving energy, Producing of alternative and clean energies

15 Composite Materials Technology

– Advanced Materials

– Automotive and Parts

16 Decentralized Sequential Transaction Database

– Tourism, Service and Creative Economy

– Electronic, Computer, Software and Information Service

17 Digital Engineering and Manufacturing Technology – Advanced Materials

– Automotive and Parts

– Research, Development and Innovation or New Industrial

18 Drug Delivery System

– Medical and Public Health

– Food and Agriculture

19 Electric Vehicle Technology

– Automotive and Parts

– Saving energy, Producing of alternative and clean energies

20 Embedded Technology

– Electronic, Computer, Software and Information Service

21 Energy Storage

– Saving energy, Producing of alternative and clean energies

22 Functional Materials Technology

– Textile, Garment and Decorations

– Automotive and Parts

– Electronic, Computer, Software and Information Service

– Food and Agriculture

23 Gene and Molecular Technology

– Food and Agriculture

– Medical and Public Health

– Biotechnology Base

24 Genetic Engineering Technology

– Food and Agriculture

– Biotechnology Base

25 Human Computer Interaction Technology/ Brian Computer Interface

– Electronic, Computer, Software and Information Service

– Medical and Public Health

– Tourism, Service and Creative Economy

26 Internet of things Technology

– Food and Agriculture

– Saving energy, Producing of alternative and clean energies

27 Material Characterization Technology

– Medical and Public Health

– Food and Agriculture

– Research, Development and Innovation or New Industrial

28 Membrane Technology

– Saving energy, Producing of alternative and clean energies

– Medical and Public Health

– Food and Agriculture

29 Metrology, Standardization, Testing Quality Assurance (MSTQ) related Technology

– Research, Development and Innovation or New Industrial

30 Nano-Characterization and Testing

– Medical and Public Health

– Food and Agriculture

– Research, Development and Innovation or New Industrial

– Electronic, Computer, Software and Information Service

31 Nano-encapsulation

– Medical and Public Health

– Food and Agriculture

32 Nanofiber Technology

– Textile, Garment and Decorations

– Advanced Materials

33 Nanomaterials Syntheses – Saving energy, Producing of alternative and clean energies

– Medical and Public Health

– Food and Agriculture

34 Nanostructure Fabrication (Top down, Bottom up)

– Advanced Materials

– Electronic, Computer, Software and Information Service

– Saving energy, Producing of alternative and clean energies

– Research, Development and Innovation or New Industrial

35 Natural Language Processing Technology

– Electronic, Computer, Software and Information Service

36 Omics Technology

– Medical and Public Health

– Food and Agriculture

– Biotechnology Base

37 Photonics & Optical Technology

– Electronic, Computer, Software and Information Service

38 Pre-Clinical & Clinical Testing Technology

– Medical and Public Health

– Research, Development and Innovation or New Industrial

39 Photovoltic Technology

– Saving energy, Producing of alternative and clean energies

40 Printed Electronics and Organic Electronics

– Medical and Public Health

– Food and Agriculture

– Electronic, Computer, Software and Information Service

– Textile, Garment and Decorations

41 Robotics Technology

– Medical and Public Health

– Food and Agriculture

– Electronic, Computer, Software and Information Service

– Automotive and Parts

42 Sensor Technology

– Medical and Public Health

– Food and Agriculture

– Electronic, Computer, Software and Information Service

– Automotive and Parts

– Saving energy, Producing of alternative and clean energies

43 Smart Grid

– Electronic, Computer, Software and Information Service

– Automotive and Parts

– Saving energy, Producing of alternative and clean energies

44 Software Testing Technology

– Electronic, Computer, Software and Information Service

– Tourism, Service and Creative Economy

45 Surface Coating/ Surface Engineering Technology

– Food and Agriculture

– Electronic, Computer, Software and Information Service

– Automotive and Parts

– Textile, Garment and Decorations

46 Thermal Solar Technology

– Saving energy, Producing of alternative and clean energies

47 Virtual & Augmented Reality Technology

– Electronic, Computer, Software and Information Service

– Tourism, Service and Creative Economy

48 Waste Treatment Technology

– Saving energy, Producing of alternative and clean energies

49 Werable Technology

– Medical and Public Health

– Electronic, Computer, Software and Information Service

50 Wind Energy Technology

– Saving energy, Producing of alternative and clean energies

 

Please contact Juslaws & Consult at bangkok@juslaws.com for further information and details.

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