iConnectHub

Login/Register

WeChat

For more information, follow us on WeChat

Connect

For more information, contact us on WeChat

Email

You can contact us info@ringiertrade.com

Phone

Contact Us

86-21 6289-5533 x 269

Suggestions or Comments

86-20 2885 5256

Top

Thailand grants incentive to bioplastic industry

Source:Plastics News Asia Release Date:2022-04-12 924
ChemicalPlastics & RubberOthersCompoundingRaw Materials & CompoundsMaterials Handling, Measuring & TestingMolds & ComponentsOther Machinery EquipmentPlastics Machinery
Add to Favorites
Thailand has extended the 25% corporate tax exemption to boost its bioplastics industry

Thailand is aiming to transform its bioplastics production into a leading industry in the ASEAN region. To encourage investments into this sector, the Thai government has approved the extension of the 25% corporate tax exemption. 

 

The tax incentive first took effect on 1 January 2019 but expired on 31 December 2021. The exemption was implemented to encourage private companies to purchase bioplastic products from Thai producers, which is seen as one way to boost bioplastics production in Thailand.  In 2020, around 14 companies were eligible for the tax exemption worth 18.3 million baht (US$544,000). 

 

In 2021, the Thai government approved the Strategic Plan to achieve a bio, circular and green (BCG) economy covering the period 2021 to 2026 s part of its national development strategy.  The BCG model covers four areas namely agriculture and food; health care and medical services; energy and biochemistry; and tourism and the creative economy.  


Add to Favorites
You May Like