Thailand Thailand announced a tax incentive for biodegradable plastic products

Thailand announced “Notification of Director-General of Revenue Department (No. 388) regarding Categories, Criteria, Procedures, and Conditions on Exemption of Corporate Income Tax for Expenses against Biodegradable Plastic Products” in the Royal Gazette on 5 November 2020. The notification prescribes a tax incentive scheme for 11 types of biodegradable plastic products. Companies can claim deductions of 1.25 times for expenses when they buy biodegradable plastic products between 1 January 2019 and 31 December 2021.

Target products of 11 categories are;

  1. Plastic carry bag
  2. Garbage bags
  3. Plastic cup
  4. Single-use plastic plates and bowls
  5. Plastic spoons, forks, and knives
  6. Plastic straw
  7. Plastic bags for agriculture
  8. Plastic film to cover the soil
  9. Plastic bottles
  10. Plastic cup lid
  11. Plastic film to cover cup lid

 

The scheme was approved by the Cabinet in June 2019 to tackle global plastic pollution.

Download original text of the Notification at
http://www.ratchakitcha.soc.go.th/DATA/PDF/2563/D/085/T_0088.PDF