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Thailand Permits Manufacture of Cosmetic Products in Special Economic Zones for Tax Reductions

Thailand recently permitted 5 types of products including cosmetics to be manufactured in special economic zones. This is expected to confer significant advantages to enterprise operating within these boundaries and could offer up to a 10% reduction in corporate income tax (Duration: 10 years). Other than corporate tax reductions and exemptions, setting up a cosmetic manufacturing plant in the special economic zones...

Thailand recently permitted 5 types of products including cosmetics to be manufactured in special economic zones. This is expected to confer significant advantages to enterprise operating within these boundaries and could offer up to a 10% reduction in corporate income tax (Duration: 10 years). Other than corporate tax reductions and exemptions, setting up a cosmetic manufacturing plant in the special economic zones may also benefit enterprise by offering simplified administrative procedures such as customs checkpoints, licensing and permission application and assurance.

Thailand's special economic zones were approved by the government in 2014 and have become important regional economic drivers. There are 10 special economic zones across the country: "Tak and Kanchanaburi" which border Myanmar, "Chiang Rai" on the Thailand-Lao-Myanmar border, "Mukdaharn, Nong Khai and Nakhon Phanom" on Thailand-Laos border, "Trat and Sa Kaew" on the Thailand-Cambodia border, and "Songkhla and Narathiwas" in the southern part of Thailand which borders Malaysia.

As a member of ASEAN, Thailand's cosmetic regulation generally align with ASEAN Cosmetic Directive (ACD). Sale of cosmetics in Thailand is contingent on prior notification. Manufacturing cosmetics should comply with ASEAN Guideline for Cosmetic Good Manufacturing Practices. (See more information about Thailand Cosmetic at CL cosmepedia.)

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