Thailand Or Exemption From Footwear And Other 10 Categories Of Commodity Import Tax

Thailand industry minister Guai Wu said that the BOI approved 10 investment promotion projects.

BOI members discussed the industrial measures to aid the Thai baht appreciation, and proposed exemption from import tax on raw materials and materials imported for export production. There were 10 kinds of commodities, including garments,

Previously, BOI has exempted the import tax on raw materials for the following 4 commodities, including auto parts, electrical appliances, electronics and plastics.

During the financial crisis in the United States, the import tax was exempted to facilitate the smooth flow of funds.

To increase the import tax on the above 10 categories of products, investors must apply to the investment promotion plan in February 31, 2011, and the private sector also needs to report to BOI.

In order to reduce the loss of exchange rate, several industries must slow down the acceptance of orders. Because trade partners are unwilling to increase the prices of export commodities, if the value of the Thai currency continues to be strong, it may affect the employment of workers or close businesses.

In addition, BOI members also studied corporate assistance measures for flood losses and agreed to exempt the import tariffs from new machines instead of the original damaged machinery. The above measures include plans for flood losses all over the country and in the future.