The cabinet on 7 March 2023 granted an approval to extend Thailand Plus Package to December 2025. Thailand Plus Package is a fiscal measure introduced by the Thai government to promote STEM employment and workforce development. Under this measure, tax incentives are given to business operators in targeted industries that hire skilled labor in the areas of science, technology, engineering and mathematics (STEM), as well as enterprises that engage in upskilling their employees through the training and education programs certified by designated government agencies, including NXPO, the Eastern Economic Corridor Office (EECO), the Digital Economy Promotion Agency (DEPA), and the Center of Robotic Excellence (CoRE). Wages of STEM workers and training expenses can be included as deductible expenses.
Recognizing the benefits of this tax incentive measure in bolstering the competitive capacity of Thailand’s targeted industries, promoting workforce development, and strengthening enterprises, the cabinet agreed to extend the measure for a period of three years, from 1 January 2023 to 31 December 2025.
NXPO President Dr. Kitipong Promwong revealed that since its inception, this tax incentive measure under the Thailand Plus Package has drawn great interest from enterprises in STEM hiring and workforce development. A total of 3,700 STEM employments in 74 companies have been certified, as well as over 600 training courses offered by 58 training centers. The extension of this measure is expected to add 5,000 new high-skilled jobs and upskill 20,000 workers in 1,000 companies by the end of 2023.
