24 January 1977

Investors offered a 10-year ‘tax holiday’

Foreign investors would be offered several incentives to bring their money into the country, including up to 10 years of tax breaks.

Speaking at the Dusit Thani Hotel to several hundred members of various chambers of commerce as well as leading diplomats, Prime Minister Tanin Kraivixien said, ‘There has been a lot of delay and inefficiency in our administrations and this has spoiled the climate of investment. We are pulling up our socks.’

Perks included income tax exemption for up to five years; tax exemptions of up to 100% on imported machinery and raw materials; a 90% reduction in business tax for up to 10 years for approved projects in an investment promotion zone; and a guarantee that none of the industries would be nationalised.

24 January 1977

Investors offered a 10-year ‘tax holiday’

Foreign investors would be offered several incentives to bring their money into the country, including up to 10 years of tax breaks.

Speaking at the Dusit Thani Hotel to several hundred members of various chambers of commerce as well as leading diplomats, Prime Minister Tanin Kraivixien said, ‘There has been a lot of delay and inefficiency in our administrations and this has spoiled the climate of investment. We are pulling up our socks.’

Perks included income tax exemption for up to five years; tax exemptions of up to 100% on imported machinery and raw materials; a 90% reduction in business tax for up to 10 years for approved projects in an investment promotion zone; and a guarantee that none of the industries would be nationalised.