Connect with us

Thailand

Tax to promote electric vehicles forecasted

Luke Albers

Published

 on 

Stock photo via Wikimedia Commons
image
image

Thailand is hopping on the electric vehicle bandwagon. An anonymous source within the Finance Ministry told the Bangkok Post that the Thai government is mulling over providing tax benefits aimed to encourage electric vehicles. This move is coming in the wake of recent promises by PM Prayut Chan-o-cha to increase Thailand’s focus on tackling climate change.

The source told the Bangkok Post that the Thai government would try to support domestic companies that produce traditional combustion engine-powered vehicles while also promoting the production of electric vehicles. This would require a restructuring of the entire vehicle excise tax system that is in place in Thailand, the source added. This tax is based on engine carbon dioxide emission rates.

But they went on to say that this restructuring would likely be very gradual, as to give domestic vehicle manufacturers time to adjust. According to the source, last week representatives from Toyota Motor Thailand met with Finance Minister Arkhom Termpittayapaisith and his team to discuss the plan that would overhaul the current vehicle excise tax system. Toyota is one of the largest and most important foreign car manufacturers in the country, and is capable of producing 760,000 vehicles domestically per year.

The source also said that the Ministry is working on a measure to subsidize the importing of finished electric vehicles next year. This legislation would most notably benefit China, considering that there is currently a 0% duty on the import of Chinese electric vehicles.

The Thai government has announced the goal of having 30% of all cars in the country be electric by 2030.

SOURCE: Bangkok Post

 

Get more from The Thaiger

📱 Download our app on Android or iOS
👋 Have your say on our Thailand forum
🔔 Subscribe to our daily newsletter
📺 Subscribe / Join for daily shows
👍 Like/Follow us on Facebook
🐦 FOLLOW us on Twitter
📷 FOLLOW us on Instagram

image

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Luke Albers is a writer from the United States. He graduated from the University of Colorado with a bachelors degree in political science and a certificate in peace, conflict and security studies. He has lived and worked in Africa and India, and now calls Thailand home. Luke loves to use his writing to connect with new people and places.

Follow Thaiger by email:

Video13 hours ago

The “Dislike: button, Serving alcohol, Thai longtail boats | Thaiger Bites | Ep.75

Coronavirus (Covid-19)13 hours ago

LATEST NEWS: First Omicron case detected in Thailand

Politics15 hours ago

Cambodian PM plans a visit to Myanmar to smooth divisions in ASEAN

advertiseadvertise
Transport15 hours ago

A bird strike may have caused Royal Thai Air Force F-5 fighter jet’s recent crashing

Thailand16 hours ago

Thailand Top Stories | Alcohol situation in Pattaya, Thailand Omicron update | Dec 6

Coronavirus (Covid-19)16 hours ago

First Omicron strain reported in Thailand, Test & Go traveller tests positive

image
Join the conversation on the Thaiger Talk forums today!
Coronavirus (Covid-19)16 hours ago

Covid UPDATE: Still no Omicron, today’s infections drop to 4,000

Crime17 hours ago

Phuket police arrest 32 after more than 3,500 venue raids since November

Video17 hours ago

Dealign with omicron, Opening the southern border, pen15 park | Good Morning Thailand | Ep.146

Politics17 hours ago

US Republican Party senator Bob Dole passes away at 98

Coronavirus Vaccines17 hours ago

Thailand’s Health Ministry misses Covid-19 vaccination target

Tourism17 hours ago

Germany removes Thailand from its list of high-risk countries

Indonesia18 hours ago

Death toll rises to 14 in volcanic eruption in Indonesia

North East18 hours ago

Police deny detaining or threatening woman who told PM to “retire quickly”

Coronavirus (Covid-19)19 hours ago

CCSA meets today to decide on southern border re-opening

Thailand3 months ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand9 months ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism9 months ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket9 months ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism10 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand10 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism10 months ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand11 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand11 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand11 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand11 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand11 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand11 months ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand11 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand11 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending