Managing BOI Import Tax Privileges for Industrial Materials

Manufacturing plants in Thailand operating under Board of Investment approval can lower production costs by using Board of Investment (BOI) privileges. These incentives include duty-free import clearances on machinery, spare parts, and raw materials used for export production. To utilize these benefits, importers must log their items in the RMTS machinery and material system, an online portal linking BOI approvals with customs declaration systems. Importers must manage their raw material import quota balances, ensuring that the quantities and HS codes in their import filings match approved BOI lists. Errors in yield formulas or quota management can result in duty assessments and customs penalties. Partnering with a BOI licensed customs broker ensures that your raw material balances are reconciled correctly, protecting your business's investment privileges and avoiding import complications.