Page 200 - Social Enterprise A New Business Paradigm for Thailand

years of registration, the investor will lose the tax deduction retroactively from the first
accounting period and must pay back taxes for all years in which the deduction was claimed 168 .

5.5) Investment Promotion Benefits

Under the Investment Promotion Act, B.E. 2520 (1977), the Board of Investment (BOI) issued
Announcement No. 8/2565 on Investment Promotion Policies and Criteria 169 , which outlines the
vision of “promoting investment to restructure the Thai economy toward a new economy.” This
vision aims to achieve three main outcomes: (1) an innovative economy driven by technology,

innovation, and creativity; (2) a competitive economy that can adapt quickly and generate high
growth; and (3) an inclusive economy that prioritizes environmental and social sustainability,
expands opportunities, and reduces inequality. Among its seven key policy goals, the investment
promotion framework includes encouraging businesses to engage in activities that contribute to
community and social development.In line with this, the BOI issued Announcement No. 9/2567
on Investment Promotion Measures for Community and Social Development, designed to
encourage legal entities to collaborate with “local organizations” to strengthen competitiveness,

improve grassroots quality of life, and promote local self-reliance, including environmental
improvements such as sustainable forest management to address the PM2.5 dust problem.

The announcement defines “local organizations” eligible for support as cooperatives, community
enterprises, social enterprises, or local farmer groups registered with the relevant authorities, as
well as local administrative organizations, public schools, or public health institutions. Eligible
activities include agriculture, integrated water management, community product development,
community tourism, environmental initiatives, education, and public health services. Support
may also be provided through collaborations with research institutes or public educational

institutions.

Table 6.10 and Diagram 6.1 summarize the criteria and conditions for applying for investment
promotion aimed at community and social development.

168 Royal Decree issued under the Revenue Code (No. 735), B.E. 2564 (2021).
169 Announcement of the Board of Investment No. 8/2565 on Investment Promotion Policies and Criteria, announced
on December 8, 2022.
167