Exemption from corporate income tax for manufacturing of vehicle parts

Thailand has not ignored the production of components for HEVs and PEVs either. In 2012 it began offering eight-year exemptions from corporate income tax (with a cap) for investment in the manufacture of vehicle parts involving advanced technologies, including batteries for HEVs, PHEVs, and BEVs, as well as traction motors “for automobiles such as hybrid or fuel-cell cars” (Kaewsang, 2013). Producers of these and other qualifying products can extend the number of years of exemption from corporate income tax depending on the share of R&D expenditures in their total revenues (Table 9).

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