Tax incentives offering to foreign investors

BANGKOK, Dec 12 (TNA) -- Prime Minister General Prayut Chan-ocha has ordered Finance and the Commerce ministries to work harder on persuading foreign businessmen to set up international headquarters and an international trading centre in Thailand after the government has offered tax incentives about seven months ago, said a spokesman to the Prime Minister’s Office. The government has amended laws in May aimed at persuading foreigners to establish international headquarters and an international trading centre in the kingdom to enable the country to become financial and investment hub in this region, the spokesman said. Since then, 17 foreign individuals have received tax benefits on establishing international headquarters and two on setting up international trading centre, he said. A total of 12 foreign firms have applied and are being considered by government agencies while 191 foreigners have received approval to receive personal income tax benefits, the spokesman said. Gen Prayut, according to the spokesman, has closely monitored the measure on a regular basis and has ordered both ministries as well as related government agencies to explain and facilitate foreign businessmen to set up offices in Thailand instead of other countries. The measure is expected to help the government as it hopes to collect 15 billion baht more in revenue annually, the spokesman added. (TNA)