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The Thailand government has approved tax exemption measures to help flood-hit companies recover.

Divided into two categories, the measures only cover factories whose investment privileges have not expired, reports the Bangkok Post.

Under the first categories, projects which are subject to a tax-exemption limit will be entitled to new eight-year tax exemption.

If a company continues to invest in the same province that was affected by the flood, tax will be waived at a rate of 150% of the new investment, plus the effective value of tax exemption they are already eligible for, notes the Bangkok Post.

Tax exemption for businesses deciding to relocate plants to other provinces is given at 100% of investment plus the effective value of tax exemption.

Under the second category, factories without a tax exemption limit will be offered an extra period of corporate income tax exemption.

According to the Thai newspaper, projects with privileges remaining for no more than three years will see the period extended up to eight years.Projects with privileges remaining for more than five years will be entitled to extra privileges.

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