Bangkok, The Stock Exchange of Thailand (SET) and the BOI have joined hands to support listed companies in taking care of society under the 'Project to Support Listed Companies to Participate in Community and Social Benefits' to support the Somdech Phra Yupparaj Hospital Foundation to improve public health services in honor of His Majesty the King on the auspicious occasion of His Majesty the King's 6th Cycle Birthday Anniversary on 28 July 2024. Professor Emeritus Kittipong Urapipatanapong, Chairman of the Stock Exchange of Thailand (SET), revealed that the SET, as one of the capital market organizations that aims to drive the country's sustainability goals and develop the capital market to benefit all sectors, has implemented the 'Project to Support Listed Companies to Participate in Community and Social Benefits' in collaboration with capital market partners, the government sector, and the social sector. The SET plays a role in connecting the business sector, namely listed companies (listed companies) in both the SET and the Market for Alternative Investment (mai), to join the project and support Somdech Phra Yupparaj Hospital to improve the level of care for people in remote areas so that they have access to universal medical treatment. The project is to show loyalty and gratitude to His Majesty the King on the auspicious occasion of His Majesty the King's 6th Cycle Birthday Anniversary on July 28, 2024. Mr. Sutthiket Tatpitakkul, Deputy Secretary-General of the Board of Investment (BOI), revealed that the investment promotion measure for community and social development aims to support the private sector with the potential to increase its role in helping develop and improve the quality of life of grassroots people in various areas to be strong and self-reliant. Interested private sectors can cooperate with local organizations as specified by the Office to develop communities and society in various areas, such as upgrading the agricultural sector, solving problems of recurring drought and floods, upgrading community products, community tourism, upgrading the education and public health sectors, solving environmental problems in communities, or reducing PM 2.5 dust in forests and agricultural areas. Projects approved for promotion by the BOI will receive the right and benefits of corporate income tax exemption from the income of the business that is currently operating for 3 years at a rate of 120 percent of the actual investment paid to support local organizations. And for projects that have been previously promoted and the corporate income tax exemption privilege has not ended, they will receive an additional corporate income tax exemption of 120 percent of the actual investment paid to support local organizations. Dr. Wanchai Satyawutthiphong, Director and Secretary-General of the Somdech Phra Yupparaj Hospital Foundation, revealed that this medical equipment support project will help increase the potential of 21 Somdech Phra Yupparaj Hospitals located in remote border areas. These modern medical equipment w ill help treat sick people, help them recover from their illnesses, and help them survive. This is considered as doing good deeds to honor His Majesty the King on the auspicious occasion of His Majesty's 72nd birthday. For listed companies that join the 'Project to Support Registered Companies to Participate in Community and Social Benefits' and receive promotion under the measures of the BOI, they must meet the conditions set by the BOI, which is that the minimum investment for the project to support Somdech Phra Yupparaj Hospitals or local organizations as set by the BOI must not be less than 5 million baht (excluding land costs and working capital). Support can be divided among several local organizations to apply for promotion under the same project. Support for local organizations must not be less than 500,000 baht per case, and the approved plan must be completed within 3 years from the date of promotion certificate issuance or the date of approval to amend the project, as the case may be, but must not exceed the period of receiving the rights and benefits of corporate income tax exemption. Listed companies interested in joining the project You can read more details at http://bit.ly/3Lu6hkE. Source: Thai News Agency
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