Thai cabinet extends excise diesel tax cut for 2 more months

The Thai Cabinet is extending the country’s excise diesel tax cut for another two months after diesel prices hit Thailand hard this year. The cut of five baht per litre will be extended from September 21 to November 20.

The elimination of excise tax on bio-diesel and bunker oil used to generate power will also continue from September 16 to March 15 2023. The Director-General of the Revenue Department, Ekniti Nitthanprapas, said the cut is necessary to relieve the burden on consumers and businesses.

Government spokesperson Anucha Burapachaisri said on Tuesday that the cabinet also approved a 300 million baht cooking gas subsidy, which will be implemented between October and December this year.

This news comes after Thailand has already spent over 200 billion baht on subsidies for diesel and gas. Thailand’s current diesel price is almost 35 baht per litre. But even prices lower than this have been considered too high by many. In April, when the price cap went from 30 to 32 baht per litre, angry truck drivers rallied in front of Government House in Bangkok.

SOURCE: Bangkok Post | Pattaya Mail | Global Petrol Prices