Tax incentive (BOI)

In the currently, the business and the industry sector has required an energy for both a production and an operation. And the solar energy (Solar cell system) is a solution that entrepreneur should invest because the solar cell system able to reduce ROI in business and help reduce negative effects to the environment, and another important matter is measure for improvement of production efficiency to come in for early discounts Solar cell system installation capital

How is BOI help of solar system installer?

The Board of Investment of Thailand (BOI) announcement regarding promoting investment to improve the efficiency of energy conservation, renewable energy utilization or environmental impact mitigation, upgrading and replacing machinery, research and development or engineering design, and upgrading of the production line to acquire international sustainability certification, which suitable to an entrepreneur because they pay corporate tax a lot and required using the electricity for a long time, However, The benefits depend on the status of the business as follows:

In the event that there is a purchase-sale of electricity between companies Companies that install solar cell systems from electricity generating companies will receive benefits such as exemption. / Reduction of import duty on machinery or necessary materials and exempt /Reduction of corporate income tax for a period of 8 years due to with the purchase-sale of electricity between companies like this It will generate income that can be tax exempt. And of course these companies have to be audited correctly

In the event that a business or industry invests in installing solar cells to reduce the cost of electricity in the organization (only 8 types of industries), they can apply for the right. Benefits such as corporate income tax reduction for 3 years, the amount of tax reduction is calculated based on 50% of investment. (excluding cost of land and working capital for improvement) and can reduce import taxes including value added tax (VAT) as well

since the government is aware of the environmental impact and has issued investment promotion measures to improve production quality with purpose to reduce the burden of initial investment costs increase the use of renewable energy and help reduce environmental impact

Applicable industry type which access to tax incentive

Industries that can request a BOI for solar cell installations Must be in the industry that is important and beneficial in economic and social and national security. There are 8 types as follows:

1. Agriculture and agricultural products
2. Metal-working and minerals
3. Light industries
4. Metal products, machinery and transport equipment
5. Electrical and electronics
6. Chemicals, plastics and paper
7. Services and public utilities
8. Technology development and innovation

How to request BOi for solar cell installation investment?

For those who have installed solar cells and want to receive BOI, they can contact us at Office of the Board of Investment directly to do fill out the promotion request form (กกท.01) or you can contact to BOI website as well, A BOI representative will then contact you to verify the project with a clarification that our original business operates. about what So how much solar cell installation power does it qualify for (BOI) certification? So what benefits are you asking for?

Time period for requesting BOI

Processing time for BOI will take approximately 60 -120 business days from the submission date. The operating procedures can be specified as follows.

– For applying for investment promotion, entrepreneurs must have promotion request form (กกท.01) , Assembly Application for investment promotion , Company certificate and Power of attorney (In the event that the authorized person according to the certificate does not submit it himself) with copy Identification card of the recipient , company financial statements and and plans to install solar cell system.

– Upon completion of the application Must proceed to clarify the project with the staff by contacting to make an appointment with the office of the committee enhance investment No later than 10 business days after submitting an application

– Considering the request by the committee It will take time according to the size of the investment as follows:

1. If the investment is less than 200,000,000 baht, it takes 40 days for consideration from the date of receipt of complete documents.
2. If investing from 200 million – 2,000 million baht, it takes 60 days for consideration from the date of receipt of complete documents.
3. If the investment is more than 2,000 million baht, it takes 90 days for consideration from the date of receipt of complete documents.

– Notify the approval result within 7 working days
– Issuance of promotional certificates within 10 working days