The electronic machine tracking system (eMT) was developed by the Investor Club Association to assist companies, promoted by the Board of Investment (BOI), with privileges granted under Section 28 and 29 of the Investment Act B.E. 2520.
The Investor Club Association (IC), established in 1993, is an organization which brings together Thai and foreign investors for collaboration and exchange of information. Under this collaboration, the IC developed different systems to quickly realize a BOI promotion.
Depending on the status of a promoted person, the BOI grants various benefits and rights which are listed in Chapter 3 of the Investment Act B.E. 2520. According to Section 28 of Chapter 3, the promoted person shall be released from the payment of import duties on machinery which is essential for the promoted activity. And this is where the eMT system is utilized.
To ensure an expeditious process and to realize the exemption granted in Section 28 without delay, the promoted person can apply for the use of the eMT system and submit a master list of the machinery and equipment. After the approval by the eMT system, the IC will issue an approval letter within three hours. This process is very efficient.
The following documents are required for the use of the eMT system:
- application form for use of eMT system
- Copy of the promotion certificate indicating the privilege according to Section 28 Investment Act B.E. 2520
- Tax ID
- Name and address in Thai and English for issuing tax receipts
The applicant needs to pay an application fee of THB 3,745, an advance service fee of THB 535 and undergo an eMT systems orientation training. The latter is free of charge for one attendant per company. Additional participants are subject to a fee of THB 4,280 (Investor Club members) / THB 6,420 (non-members).
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.