# BOI Notification Por 5/2569 and Board Announcement 8/2569: Quarterly e-Monitoring, the 60-Day Filing Window, and the Two-Strike Revocation Architecture for Promoted Companies

- Canonical URL: https://www.lexcelsiam.com/observation/boi-por-5-2569-quarterly-progress-reporting-first-deadline
- Locale: en
- Collection: /observation
- Published: 2026-05-03
- Last Updated: 2026-05-03
- Author: Lexcelsiam Regulatory Intelligence Desk (Cross-Border Legal Content Team)
- Reviewed By: Lexcelsiam Thailand Investment Promotion Review Desk (BOI Compliance & Regulatory Filing Review)
- Category: Investment Promotion
- Tags: BOI, Thailand, e-Monitoring, Quarterly Reporting, Por 5/2569, Announcement 8/2569, Investment Promotion Act, Promoted Companies, Compliance Deadline, Section 54 Revocation
- Related Slugs: boi-3-2569-2026-economic-recovery-stimulus, thailand-boi-2025-energy-sector-investment-incentives, dbd-2026-anti-nominee-registration-measures

## Executive Summary

Thailand's BOI replaces semi-annual progress reporting with mandatory quarterly e-Monitoring under Por 5/2569 and Announcement 8/2569; the first deadline of 30 May 2026 carries automatic suspension on a single miss and revocation under §54 of the Investment Promotion Act on two consecutive misses.

## Full Text

# BOI Notification Por 5/2569 and Board Announcement 8/2569: Quarterly e-Monitoring, the 60-Day Filing Window, and the Two-Strike Revocation Architecture for Promoted Companies

## TL;DR / Summary

- The Thai Board of Investment ("BOI") has restructured its progress-reporting regime for promoted companies through two interlocking instruments: BOI Announcement No. 8/2569 (Board-level, dated 30 March 2026) and Office of the BOI Notification No. Por 5/2569 (OBOI-level, dated 20 April 2026). The Board-level instrument creates the obligation; the OBOI instrument prescribes the cadence and channel.
- Por 5/2569 §1 expressly repeals the predecessor OBOI Notification Por 1/2561 of 8 January 2018, which had imposed a semi-annual February/July reporting cadence.
- Promoted companies must now file quarterly via the e-Monitoring portal within **60 days** of the end of each calendar quarter (March, June, September and December quarter-ends). The very first filing under the new regime is the Q1 2026 report, due **30 May 2026**.
- Announcement 8/2569 §2 prescribes a two-tier enforcement architecture invoking §§11, 20, 23 and 54 of the Investment Promotion Act B.E. 2520 (the "IPA"): a single missed or non-compliant filing triggers suspension of rights and benefits under the promotion certificate, and two consecutive missed filings expose the certificate to revocation.
- The new regime applies retroactively to all existing promotion certificates: Por 5/2569 §3 cancels any pre-existing Feb/Jul reporting condition and substitutes the quarterly cadence by operation of law, with no amendment application required.
- Reporting is per-certificate (not per-entity). Companies holding multiple certificates must file a separate quarterly report for each promoted project from issuance of the promotion certificate until receipt of the operating licence (ใบอนุญาตเปิดดำเนินการ); thereafter the project transitions to the annual operating-report regime under Chapter 4 of the e-Monitoring manual.
- The "two-strike" calibration in 8/2569 §2 is the BOI's chosen exercise of its broader §54 IPA revocation discretion. §54 ¶2 IPA mandates a written-warning step **only where the breach is unintentional**; intentional or reckless breaches may be revoked without that warning step. [verify]
- For Hong Kong and mainland China sponsors of BOI-promoted Thai entities, the operational consequence is immediate: e-Monitoring discipline must be elevated from a half-yearly box-tick into a quarterly closing-cycle obligation aligned with management accounts, and project teams must reconcile this calendar with the 12-/18-month evidence packages owed under BOI Announcement No. 3/2569 stimulus measures.

## Matter Snapshot

This observation analyses the doctrinal and operational consequences of two BOI instruments published within three weeks of each other in the first half of B.E. 2569 (calendar 2026): Board-level Announcement No. 8/2569 of 30 March 2026 (signed by the Chair of the Board, Mr. Ekniti Nitithanprapas, in his capacity as Deputy Prime Minister) and Office-level Notification No. Por 5/2569 of 20 April 2026 (signed by the Secretary-General of the BOI, Mr. Narit Therdsteerasukdi). Together they reconstitute the post-certificate, pre-operation reporting obligation owed by every BOI-promoted company under the IPA.

The instruments do three things in concert. First, they migrate the cadence of mandatory progress reporting from semi-annual (February and July, under the now-repealed Por 1/2561) to quarterly (within 60 days of March, June, September and December quarter-ends). Second, they confirm that the e-Monitoring portal at https://emonitoring.boi.go.th/ is the sole filing channel, in the prescribed form. Third, they recalibrate enforcement: a single missed filing now triggers automatic suspension of certificate rights and benefits, and two consecutive misses expose the certificate to revocation under §54 IPA.

The first compliance moment under the new regime arrives shortly after this observation is published. The Q1 2026 quarter ended on 31 March 2026, and the 60-day window expires on 30 May 2026. Promoted companies that had previously calendared a July filing under the legacy Por 1/2561 regime must reset their compliance calendars now: Por 5/2569 §3 cancels the legacy condition by operation of the notification itself, regardless of whether the certificate has been formally amended. No official English translation of either instrument has been published; all English renderings in this note (including those quoted below) are unofficial working translations and should be cross-checked against the Thai original before being relied on operationally.

## Issue

The doctrinal issue framed by Por 5/2569 and Announcement 8/2569 is fourfold:

1. **Source-of-obligation issue.** Where in the IPA does the obligation to file quarterly progress reports sit, and which of the two 2026 instruments is the enabling instrument and which the operational instrument? The distinction matters because the OBOI cannot, on its own initiative, create new substantive obligations on promoted companies — only the Board can do so under §§11/20/23 IPA — and any analysis that collapses the two instruments into "Por 5/2569 alone" misstates the architecture.
2. **Cadence and timing issue.** What is the precise quarterly cadence, what is the filing window, and how is the very first report under the new regime calibrated for (a) certificates issued before 1 January 2026, (b) certificates issued mid-quarter during 2026, and (c) projects already subject to the parallel evidence-package timeline under BOI Announcement 3/2569?
3. **Enforcement architecture issue.** What is the textual scope of the suspension trigger in 8/2569 §2 — is it triggered by a missed filing, a late filing, an incomplete filing, or all three? When does the "two strikes" pathway to revocation under §54 IPA crystallise, and how does the §54 ¶2 written-warning step interact with the suspension/revocation sequence prescribed in the announcement?
4. **Cross-regime interaction issue.** How does the new quarterly filing interact with (a) the 150-day corporate income tax filing under §69 of the Revenue Code, (b) the 12-/18-month evidence-package deadlines under BOI Announcement 3/2569 stimulus measures, and (c) ongoing-disclosure obligations under §57 of the Securities and Exchange Act B.E. 2535 for SET-listed promoted issuers?

## Rule

### A. Statutory anchor — §54 IPA

The revocation power exercised in Announcement 8/2569 §2 derives from §54 of the IPA. The English working translation published by the BOI reads:

> "In the case where a promoted person violates or fails to comply with the conditions stipulated by the Board, the Board shall have the power to withdraw the rights and benefits granted to him, in toto or in part, and may prescribe the duration thereof. If the Board is of the opinion that such violation or failure to comply with the conditions by the promoted person is unintentional, the Board may first instruct the Office to serve a written warning to the promoted person to make remedy or to comply with the conditions with a prescribed period. If, after the expiration of such period, the promoted person has failed to do accordingly without justification, the Board shall take action as prescribed in paragraph one."

Two doctrinal points follow from the structure of §54. First, the written-warning step in paragraph two is conditional on the Board forming the view that the breach is "unintentional"; it is not a freestanding due-process right the promoted person can claim regardless of the nature of the breach. Second, partial revocation (and time-limited revocation) are expressly contemplated alongside total revocation, which provides the doctrinal space within which the "Tier 1 suspension / Tier 2 revocation" calibration of 8/2569 §2 sits. [verify]

### B. The Board-level enabling instrument — Announcement 8/2569

The Board issued Announcement No. 8/2569 on 30 March 2026, citing §§11, 20, 23 and 54 IPA as its statutory basis. The two operative clauses, with working English renderings, read as follows.

§1 (Thai): "ผู้ได้รับการส่งเสริมจะต้องรายงานความคืบหน้าโครงการเป็นรายไตรมาสต่อสำนักงาน ตามหลักเกณฑ์ วิธีการ ระยะเวลาและแบบที่สำนักงานกำหนด"

Working English: "The promoted person shall report project progress to the Office quarterly, in accordance with the criteria, procedures, time periods and forms prescribed by the Office."

§2 (Thai): "กรณีผู้ได้รับการส่งเสริมฝ่าฝืนหรือไม่ปฏิบัติตามเงื่อนไขในข้อ ๑ จะดำเนินการระงับสิทธิและประโยชน์ตามบัตรส่งเสริม และหากไม่รายงาน ๒ ครั้งติดต่อกัน อาจจะพิจารณาเพิกถอนสิทธิและประโยชน์ต่อไป"

Working English: "Where the promoted person violates or fails to comply with §1, rights and benefits under the promotion certificate shall be suspended; where no report is filed for two consecutive periods, the Board may further consider revoking the rights and benefits."

The instrument states that it takes effect immediately ("ทั้งนี้ ตั้งแต่บัดนี้เป็นต้นไป"). Royal Gazette publication of 8/2569 has not been independently confirmed at the time of writing; this observation does not assert formal gazettal. [verify]

### C. The OBOI operational instrument — Por 5/2569

The Office of the BOI issued Notification No. Por 5/2569 on 20 April 2026, citing §§11, 13, 20 and 54 IPA together with Board resolution no. 2/2569 of 20 March 2026 as its delegating authority. Three operative clauses are central.

§1 (Thai): "ให้ยกเลิกประกาศสำนักงานคณะกรรมการส่งเสริมการลงทุน ที่ ป. ๑/๒๕๖๑ ลงวันที่ ๘ มกราคม ๒๕๖๑ เรื่อง กำหนดแนวทางรายงานความคืบหน้าโครงการ"

Working English: "OBOI Notification No. Por 1/2561 of 8 January 2018 (Prescribing Guidelines for Project Progress Reporting) is hereby repealed."

§2 (Thai): "ผู้ได้รับการส่งเสริมจะต้องรายงานความคืบหน้าโครงการต่อสำนักงานตามแบบที่สำนักงานกำหนดในระบบ e-Monitoring เป็นรายไตรมาส ได้แก่ เดือนมีนาคม มิถุนายน กันยายน และธันวาคม โดยกำหนดให้รายงานภายใน ๖๐ วัน นับจากวันสิ้นสุดของไตรมาสนั้น ของทุกปีนับแต่ออกบัตรส่งเสริมจนกว่าจะได้รับใบอนุญาตเปิดดำเนินการ ทั้งนี้ สำหรับโครงการที่ออกบัตรส่งเสริมระหว่างไตรมาส ให้เริ่มรายงานความคืบหน้าโครงการครั้งแรกในรอบไตรมาสที่ต้องรายงานถัดไป"

Working English: "The promoted person shall report project progress to the Office in the form prescribed by the Office, through the e-Monitoring system, on a quarterly basis — namely, the quarters ending in March, June, September and December — within 60 days of the end of the relevant quarter, in every year from issuance of the promotion certificate until the operating licence is received. For projects whose promotion certificate is issued mid-quarter, the first progress report shall be filed in the next reporting quarter."

§3 (Thai): "ผู้ที่ได้รับการส่งเสริมอยู่เดิม ซึ่งปรากฏเงื่อนไขในบัตรส่งเสริม 'จะต้องรายงานความคืบหน้าโครงการต่อสำนักงาน ภายในเดือนกุมภาพันธ์และกรกฎาคมของทุกปี นับแต่ออกบัตรส่งเสริม' ให้ยกเลิกเงื่อนไขในบัตรส่งเสริมดังกล่าว และให้รายงานความคืบหน้าโครงการตามประกาศนี้แทน"

Working English: "For pre-existing promoted persons whose promotion certificate contains the condition 'the promoted person shall report project progress to the Office within February and July of every year from issuance of the promotion certificate', that condition is hereby cancelled, and reporting shall instead be made in accordance with this notification."

### D. The two-instrument architecture

The two instruments are doctrinally distinct and must not be collapsed. Announcement 8/2569 is the **Board-level enabling** instrument: it creates the substantive obligation to report quarterly and prescribes the suspension/two-strike enforcement calibration of §54 IPA. Por 5/2569 is the **Office-level operational** instrument: it implements the quarterly cadence, fixes the 60-day filing window, designates the e-Monitoring portal as the sole channel, repeals the 2018 predecessor, and overrides the legacy Feb/Jul condition embedded in pre-existing promotion certificates. The "60-day window" and the "March/June/September/December" cadence appear only in Por 5/2569 §2; the "automatic suspension" and "two consecutive misses → revocation" rule appears only in 8/2569 §2.

### E. Predecessor regime — Por 1/2561

The repealed predecessor (OBOI Notification Por 1/2561 of 8 January 2018, signed by then-Secretary-General Ms. Duangjai Asawachintachit) imposed a semi-annual February/July cadence and already contained a two-strike suspension/revocation construct. The two-strike calibration is therefore not a 2026 innovation in itself; what is new in 2026 is (i) the migration to quarterly cadence, (ii) the Board-level re-statement of the enforcement calibration in 8/2569 (pulling the rule up from the OBOI to the Board), and (iii) the formal designation of e-Monitoring as the prescribed filing channel in the notification text.

### F. The e-Monitoring channel

The e-Monitoring portal sits at https://emonitoring.boi.go.th/ and is supported by an OBOI-published Thai user manual. As at the date of this observation, the published user manual still describes the cadence as "ปีละ 2 ครั้ง: ทุก ก.พ. และ ก.ค." (twice yearly: each February and July) in Chapter 3 — i.e., the manual has not yet been updated to reflect the quarterly cadence prescribed by Por 5/2569 §2. The notification text controls; promoted companies should rely on the Por 5/2569 cadence rather than the manual until the manual is updated. [verify]

## Application

### Pattern A — Mid-quarter certificate issuance to a Hong Kong-controlled SPV

A Hong Kong-controlled BOI-promoted SPV receives its promotion certificate on 14 May 2026, which falls mid-Q2 2026. Applying Por 5/2569 §2 second sentence, the SPV's first quarterly report is filed in respect of the **next reporting quarter** rather than the in-flight Q2. Q3 2026 ends on 30 September 2026; the 60-day window therefore expires on 29 November 2026. The SPV is not required to file a Q2 2026 report, notwithstanding that some part of its certificate-bearing life fell within Q2. From Q3 2026 onwards the cadence runs unbroken until the operating licence is received.

This pattern resolves a question that the secondary commentary has not consistently addressed. The notification language does not require a partial-quarter report; the "ถัดไป" (next) framing makes the first reporting quarter wholly post-issuance.

### Pattern B — Multi-certificate PRC-controlled entity

A mainland-China-controlled Thai entity holds three BOI promotion certificates: Activity 1 in commercial operation (operating licence already received); Activity 2 in capex with quarterly reporting active; Activity 3 issued 2 April 2026 (Q2 2026 mid-quarter). Three doctrinal points apply.

First, reporting is per-certificate. Activity 1 has transitioned out of the Por 5/2569 quarterly cadence and into the annual operating-report regime described in Chapter 4 of the e-Monitoring manual (anchored to the corporate income-tax return PND 50). Activity 2 must file the Q1 2026 quarterly report by 30 May 2026 and quarterly thereafter. Activity 3, being mid-quarter, owes its first report in respect of Q3 2026, due 29 November 2026 (Pattern A logic).

Second, an enforcement event under 8/2569 §2 acts on the certificate, not the entity. A missed filing on Activity 2 suspends Activity 2's certificate-derived rights and benefits; Activity 1's operating-phase entitlements and Activity 3's pre-first-report status are not directly impaired by an Activity 2 default. (Practitioner observation: in operational reality, a suspension of one certificate is liable to spill over into adjacent processes — visa, work permit, duty-free importation — but those operational consequences are not prescribed by the text of 8/2569 or Por 5/2569; they are portal-practice outputs and should be flagged as such. [verify])

Third, where the certificates are held by the same Thai legal person, group reporting governance should still treat each certificate as a separate compliance object. Internal reporting calendars, sign-off sheets and document repositories should be indexed by certificate number, not by activity name.

### Pattern C — Project under BOI Announcement 3/2569 stimulus running in parallel

A project promoted under the BOI's 2026 economic-recovery stimulus measure (Announcement 3/2569) is subject to two parallel BOI-side reporting regimes that must not be confused. The Por 5/2569 quarterly progress report under the e-Monitoring system runs every quarter from issuance of the promotion certificate to the operating licence. The 3/2569 stimulus regime separately prescribes evidence-package deadlines (commonly framed as 12-month and 18-month milestones from issuance) targeted at confirming actual investment progress for purposes of the stimulus's enhanced incentives.

Neither regime substitutes for the other. A timely quarterly e-Monitoring filing does not relieve the company of the 12-/18-month evidence package; conversely, an evidence-package submission is not credited as a quarterly e-Monitoring filing. Calendar reconciliation across the two regimes — and across the engineering, finance and tax functions that own the underlying data — is now a board-level governance question for cross-border sponsors.

### Pattern D — SET-listed BOI-promoted issuer misses a Q2 filing

An issuer listed on the Stock Exchange of Thailand and holding a material A-tier BOI promotion certificate misses the Q2 2026 filing deadline of 31 August 2026. Day 0 from the BOI side is the day on which suspension under 8/2569 §2 attaches. From the securities-law side, §57 of the Securities and Exchange Act B.E. 2535 imposes an ongoing disclosure obligation in respect of material events, and the Stock Exchange's disclosure framework expects prompt disclosure of events that may materially affect rights of securities holders or the price of listed securities. Suspension of BOI rights and benefits — particularly where the affected certificate carries a material corporate-income-tax exemption — may, depending on the materiality of the affected certificate to the issuer's business and earnings, fall within the §57 SE Act material-event standard on the day of suspension, rather than only on the day on which the second consecutive miss crystallises a possible revocation. The materiality assessment is fact-specific and should be made by the listed company's continuous-disclosure committee against the SET disclosure framework, not derived from the BOI instruments themselves. [verify]

The interaction is not addressed in either Por 5/2569 or 8/2569; it must be resolved by reference to the general SE Act §57 standard and the Stock Exchange's disclosure rules. Listed promoted issuers should pre-position a disclosure protocol that is keyed to the BOI's suspension trigger, not to the revocation trigger.

### Cross-cutting application — the 30 May 2026 same-day collision with PND 50

For a promoted company on a calendar fiscal year (year-end 31 December 2025), the Revenue Code §69 corporate income-tax return (PND 50) is due 150 days after the fiscal year-end — which falls on 30 May 2026. The Por 5/2569 Q1 2026 quarterly progress report falls due **on the same day** — 30 May 2026 (60 days after the 31 March 2026 quarter-end). The two filings are textually unrelated (PND 50 data is consumed by the e-Monitoring annual operating report only after the operating licence is received), but they fall on the identical calendar day for any calendar-year promoted entity. Project finance and tax teams must ensure that the data preparation timetables for these two filings do not contend for the same closing-window resources, and that the two sign-off owners are not the same person. The same-day collision is doctrinal inference from the cadence and statutory windows, not a feature of either notification text. [verify]

### Cross-cutting application — scope of the suspension trigger

The text of 8/2569 §2 speaks of the promoted person who "violates or fails to comply" with §1, with the secondary "two strikes" rule textually attaching only to non-reporting ("ไม่รายงาน ๒ ครั้งติดต่อกัน"). Whether (a) a late-but-filed report, (b) a filed-but-incomplete report, or (c) a filed-but-materially-inaccurate report falls within "violates or fails to comply" for purposes of the Tier 1 suspension is textually ambiguous and would, on its face, be resolved by the Board exercising its broader §54 IPA discretion as to whether a "condition" prescribed by the Board has been violated. The conservative practitioner reading is that any deviation from the prescribed form, channel, content or timing carries Tier 1 risk; the question whether two consecutive late-but-filed reports trigger Tier 2 revocation is unresolved on the text and should be assumed to do so for risk-planning purposes. [verify]

### Cross-cutting application — the §54 ¶2 written-warning question

The §54 ¶2 written-warning step is mandatory only where the Board forms the view that the breach is unintentional. A repeated, calendared compliance failure — particularly one preceded by a Tier 1 suspension that the company did not cure — sits poorly with an "unintentional" characterisation. Sponsors should not assume that the warning step will, in practice, intercede between suspension and revocation in the second-miss scenario; legal-side mitigation should occur during the Tier 1 suspension window, not after the second miss has crystallised. There is no dedicated statutory appeal mechanism in the IPA against a §54 revocation; remedies are administrative-court review under the Act on Establishment of Administrative Courts and Administrative Court Procedure B.E. 2542. [verify]

### Cross-cutting application — extension and force majeure

Neither Por 5/2569 nor Announcement 8/2569 prescribes an extension or force-majeure mechanism for the 60-day window. The only express softening of §54 enforcement available on the face of the IPA is the written-warning step in §54 ¶2 for unintentional breaches. Practitioners should treat the 60-day window as a hard deadline at the level of the notification text and address any extension request operationally to the OBOI through portal correspondence, with the awareness that any informal accommodation does not bind the Board's §54 discretion. [verify]

## Conclusion

Por 5/2569 and Announcement 8/2569 collectively reconstitute the post-certificate, pre-operating reporting regime for BOI-promoted companies in Thailand. The doctrinal architecture is two-instrument — a Board-level enabling announcement and an Office-level operational notification — and any analysis that treats the regime as a single OBOI rule misstates the source of the obligation. The cadence is quarterly, the window is 60 days, the channel is e-Monitoring, and the enforcement is calibrated as automatic suspension on the first miss and discretionary §54 revocation on the second consecutive miss. The first compliance moment is 30 May 2026 for the Q1 2026 report, and the regime applies retroactively to all existing promotion certificates by force of Por 5/2569 §3. The principal open questions — the textual scope of "non-compliance," the scope of the §54 ¶2 written-warning step in serial-failure cases, the interaction with §57 SE Act disclosure for listed issuers, and the calendar collision with the §69 Revenue Code 150-day filing — are not resolved by the notifications and must be managed by reference to underlying statutory standards and to operational practice.

For Hong Kong and mainland China sponsors of BOI-promoted Thai entities, the practical posture for the remainder of 2026 should be conservative: assume the 60-day window is hard, treat any deviation from prescribed form/channel/content as Tier 1 risk, run a parallel reporting calendar reconciled with the 12-/18-month milestones under any 3/2569 stimulus participation, and pre-position a §57 SE Act disclosure protocol if the issuer is SET-listed.

## Immediate Actions

1. **Inventory promotion certificates by entity, project and quarter-of-issuance.** For each certificate, record the issuance date, the activity tier, any pre-existing Feb/Jul reporting condition (now superseded by Por 5/2569 §3 by operation of law), and whether the operating licence has been received. Certificates already in operating-licence status are out of scope of Por 5/2569 §2 and on the annual operating-report cadence.
2. **Calendar the Q1 2026 deadline of 30 May 2026 and the rolling quarterly cadence.** For each in-scope certificate, lock the four 2026/2027 deadlines: 30 May 2026 (Q1 2026), 29 August 2026 (Q2 2026), 29 November 2026 (Q3 2026), 1 March 2027 (Q4 2026). Build an internal escalation point at deadline minus 21 days.
3. **Verify e-Monitoring portal access and account custody for each certificate-holder.** Confirm that the user account at https://emonitoring.boi.go.th/ is held by a current employee (not a former finance officer or external advisor whose access is no longer maintained), that login credentials are recoverable, and that the form-set in the portal is the version prescribed under Por 5/2569.
4. **Reconcile the same-day 30 May 2026 collision between the Revenue Code §69 PND 50 filing and the Por 5/2569 Q1 e-Monitoring filing.** For calendar-year entities, both filings fall on 30 May 2026. Ensure the tax close and the project-progress data close do not contend for the same accounting and engineering resources, and that the two sign-off owners are not the same person. Sequence the closes so that the PND 50 file is locked by mid-May and the e-Monitoring data is independently sourced.
5. **For projects under BOI Announcement 3/2569 stimulus measures, layer the quarterly e-Monitoring calendar against the 12-/18-month evidence-package deadlines.** The two regimes are independent and non-substitutable; treat them as parallel obligations, with separate sign-off owners and separate document repositories indexed by certificate number.
6. **For SET-listed promoted issuers, pre-draft a §57 SE Act disclosure template keyed to BOI suspension events.** The disclosure trigger should be Day 0 of a Tier 1 suspension under 8/2569 §2, not Day 0 of a possible Tier 2 revocation. Coordinate the template with company-secretary and listed-company-compliance owners in advance.
7. **Document the intentionality posture of any Tier 1 breach immediately.** Because the §54 ¶2 written-warning step is conditional on the Board characterising the breach as unintentional, contemporaneous documentation of the operational cause of the missed/non-compliant filing materially affects the likelihood that the warning step will, in practice, intercede before revocation. Capture the cause within the suspension window, not after.
8. **Update internal compliance documentation to reflect the repeal of Por 1/2561.** Any internal manual, secondment kit, or BOI-compliance checklist that references the legacy Feb/Jul cadence is now affirmatively wrong and should be reissued with a Por 5/2569 / Announcement 8/2569 reference set.

## FAQ

**Q1. Has the Thai BOI actually replaced the semi-annual February/July reporting cycle with a quarterly cycle, or is this a soft administrative shift?**

**A1. It is a hard regulatory shift, not a soft administrative one. OBOI Notification No. Por 5/2569 §1 (20 April 2026) expressly repeals OBOI Notification Por 1/2561 (8 January 2018), and Por 5/2569 §2 prescribes a quarterly cadence anchored to the March, June, September and December quarter-ends with a 60-day filing window. Board-level Announcement 8/2569 (30 March 2026) §1 separately requires quarterly reporting and §2 prescribes suspension of certificate rights and benefits for non-compliance. The shift is in the notification text, not in portal practice alone.**

**Q2. When is the very first quarterly progress report due under the new regime?**

**A2. For promoted companies whose certificate was issued on or before 31 March 2026, the first report is the Q1 2026 quarterly progress report, due 30 May 2026 (60 days after the 31 March 2026 quarter-end). For promoted companies whose certificate is issued mid-quarter during 2026, Por 5/2569 §2 second sentence states that the first report is filed in respect of the next reporting quarter, not the in-flight quarter — so a certificate issued on, for example, 14 May 2026 first reports on Q3 2026, due 29 November 2026.**

**Q3. My promotion certificate currently contains a condition requiring February/July reporting. Do I need to apply to the BOI to have that condition formally amended before I can rely on the new quarterly cadence?**

**A3. No. Por 5/2569 §3 cancels any pre-existing Feb/Jul reporting condition by operation of the notification itself and substitutes the quarterly cadence prescribed in §2 in its place. No amendment application is required, and the legacy condition is now a dead letter. Internal compliance documentation should nevertheless be updated to record that the legacy condition has been superseded, so that auditors and successor compliance officers do not reactivate the wrong calendar.**

**Q4. What exactly happens if I miss a single quarterly filing? And what happens on a second consecutive miss?**

**A4. Announcement 8/2569 §2 prescribes that, where a promoted person violates or fails to comply with the §1 quarterly reporting obligation, rights and benefits under the promotion certificate shall be suspended. Where no report is filed for two consecutive periods, the Board may further consider revoking those rights and benefits under §54 IPA. The "automatic restoration on filing" framing used in some secondary commentary is a portal-practice description and is not in the notification text. [verify] Once the second miss has crystallised, mitigation depends on the Board's discretionary characterisation of the breach under §54 IPA, including whether the §54 ¶2 written-warning step applies.**

**Q5. Does a late-but-filed report, or a filed-but-incomplete report, count as "non-compliance" for purposes of the suspension trigger in 8/2569 §2?**

**A5. The textual answer is unresolved. 8/2569 §2 speaks of the promoted person who "violates or fails to comply" with §1 (which language is broad enough to capture any deviation from prescribed form, channel, content or timing), but the secondary "two strikes" rule textually addresses only "ไม่รายงาน ๒ ครั้งติดต่อกัน" — i.e., non-reporting in the two consecutive periods. The conservative practitioner reading is that late or incomplete filings carry Tier 1 suspension risk and that two consecutive non-conforming filings should be assumed to carry Tier 2 revocation risk. [verify] Companies should not assume that a late-but-filed report is treated identically to a timely one.**

**Q6. Is the new regime limited to certain BOI activity tiers, certain promotion measures, or certain industries?**

**A6. No. Both Por 5/2569 §2 and 8/2569 §1 use the unqualified term "ผู้ได้รับการส่งเสริม" (the promoted person) and contain no carve-out by activity tier (A1–A4, B1–B2 alike), by promotion measure, or by industry. The regime applies to all BOI-promoted companies that are post-certificate but pre-operating-licence, including those promoted under the BOI's 2026 stimulus measures, energy incentives, and other 2025–2026 measure packages.**

**Q7. Does a quarterly e-Monitoring filing satisfy the 12-month or 18-month evidence-package deadline owed under BOI Announcement 3/2569 stimulus measures?**

**A7. No. The two regimes are doctrinally and operationally independent. The Por 5/2569 quarterly e-Monitoring report is a recurring obligation that runs from certificate issuance to operating licence and is enforced under §54 IPA via the 8/2569 calibration. The 3/2569 evidence-package deadlines are project-specific milestone obligations directed at confirming actual investment progress for purposes of the stimulus's enhanced incentives. A timely e-Monitoring filing does not credit the evidence package, and an evidence-package submission does not credit a quarterly e-Monitoring filing. Companies participating in 3/2569 should run a parallel calendar with separate sign-off owners. See the Lexcelsiam observation on Announcement 3/2569 for the deadline architecture of the stimulus measure itself.**

**Q8. What is the appropriate disclosure posture for a SET-listed BOI-promoted issuer that has just been suspended under 8/2569 §2?**

**A8. The disclosure analysis is governed by §57 of the Securities and Exchange Act B.E. 2535 and the Stock Exchange of Thailand's disclosure framework, neither of which is cross-referenced in Por 5/2569 or Announcement 8/2569. Suspension of certificate rights and benefits — particularly where the affected certificate carries a material corporate-income-tax exemption — may, depending on the materiality of the affected certificate to the issuer's business and earnings, qualify as a disclosure-triggering material event on the day of suspension, rather than waiting for the second consecutive miss to crystallise a possible revocation. The materiality call is fact-specific and belongs to the issuer's continuous-disclosure committee, not the BOI text. [verify] Listed promoted issuers should pre-draft a disclosure template keyed to the Tier 1 suspension trigger and coordinate it with company-secretary and listed-company-compliance functions in advance.**

## Sources

| Source | Issuer | Date | URL |
|---|---|---|---|
| BOI Notification Por 5/2569 (Thai) | OBOI (Narit Therdsteerasukdi, Secretary-General) | 2026-04-20 | https://www.boi.go.th/upload/content/por5_2569_69e5d3822ecb2.pdf |
| Por 5/2569 mirror | OBOI | 2026-04-20 | https://faq108.co.th/boi/announcement/pdf/2569_por05.pdf |
| BOI Announcement 8/2569 (Thai) | BOI (Ekniti Nitithanprapas, Chair of the Board) | 2026-03-30 | https://faq108.co.th/boi/announcement/pdf/2569_08.pdf |
| OBOI Notification Por 1/2561 (predecessor; expressly repealed) | OBOI (Duangjai Asawachintachit) | 2018-01-08 | https://faq108.co.th/boi/announcement/pdf/2561_por01.pdf |
| BOI Announcement 3/2569 (stimulus measure context) | BOI | 2026-01-15 | https://faq108.co.th/boi/announcement/pdf/2569_03.pdf |
| Investment Promotion Act B.E. 2520 (English working translation) | OBOI (mirrored) | 1977 (as amended) | https://www.samuiforsale.com/law-texts/investment-promotion-act.html |
| BOI e-Monitoring portal | OBOI | retrieved 2026-05-02 | https://emonitoring.boi.go.th/ |
| BOI e-Monitoring user manual (Thai; manual lags new cadence) | OBOI | undated | https://emonitoring.boi.go.th/data/manual/emonitoring.pdf |
| FAQ108 BOI announcements compendium index | FAQ108.co.th | retrieved 2026-05-02 | https://faq108.co.th/boi/announcement/ |
| SET — Disclosure of Material Events (controlling framework for SET-listed BOI-promoted issuers; references Securities and Exchange Act B.E. 2535 §57 and related rules) | Stock Exchange of Thailand | current | https://www.set.or.th/en/listing/listed-company/simplified-regulations/disclosure/disclosure-material-events |

## Lexcelsiam Note

This observation is a doctrinal analysis of two BOI instruments published in March and April 2026 and is not legal advice in respect of any particular promotion certificate, project or transaction. No official English translation of either Por 5/2569 or Announcement 8/2569 has been published; all English renderings (including the renderings of operative clauses set out in the Rule section above) are unofficial working translations and should be reconciled against the Thai original before being relied on for any filing, internal sign-off, or third-party communication. Royal Gazette publication of Announcement 8/2569 has not been independently verified at the date of writing. The "automatic suspension" / "automatic restoration on filing" framing used in some secondary commentary, and the operational gating of visa, work-permit and duty-free import facilities on Tier 1 suspension, are portal-practice descriptions that do not appear on the face of either notification and should not be conflated with the suspension trigger prescribed in Announcement 8/2569 §2. Cross-jurisdictional comparators referenced in internal practitioner discussions (Vietnam Decree 31/2021, Malaysia MIDA, Singapore EDB) are drafter knowledge and are not cited in this observation as primary sources. Sponsors of BOI-promoted Thai entities — and in particular Hong Kong and mainland China inbound sponsors whose internal calendars were structured around the legacy Feb/Jul cadence — should treat the 30 May 2026 Q1 deadline as a hard deadline and seek certificate-specific advice before the second-miss revocation pathway crystallises in any individual matter.