News and Announcements
Thailand Government Awards YPB
- Published January 13, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Brand Protection and Customer Engagement solutions company YPB Group Limited (ASX:YPB) has received “Board of Investment (BOI) promotion certification” under the Government of Thailand’s BOI Investment Promotion Scheme.
KEY TAKEAWAYS:
- The Government of Thailand issues YPB “International Headquarters” BOI status.
- BOI status offers eight-year exemption from corporate tax, among other benefits.
- Significant boost to YPB’s ability to do business in Thailand and Pan-Asia.
“Receipt of the certification allows YPB to access all the benefits of the BOI Investment Promotion Scheme, including an eight-year exemption from corporate income tax and work and residency benefits for expatriate staff. A key goal of the BOI is to promote Thailand as a lower cost business rival to Hong Kong and Singapore.”
More information on the scheme is available at: http://www.boi.go.th/index.php?page=incentive
“Thailand is an ideal site for YPB’s international headquarters, providing a low-cost economy in the geographic heart of the enormous and burgeoning Pan-Asian middle class. Costs and travel times from Bangkok are far lower than from an Australian base and the accumulation of valuable local expertise relevant to western exporters far more likely.”
“YPB Executive Chairman Mr John Houston said: “While YPB has been headquartered in Thailand for nearly two years, the granting of BOI certification by the Government of Thailand is an important and value-enhancing development. We are proud to have established YPB’s operational headquarters in Bangkok and expect it to foster the development of our business in Thailand and Pan-Asia.”
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