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BoI offers privileges for eco-car manufacturers

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The Thai Board of Investment (BoI) is offering an exemption from corporate tax for a maximum of eight years for machinery imported into Thailand for eco-car manufacturers on the condition that each project must have a total investment of not less than Bt5 billion.
Deputy Prime Minister and Industry Minister Kosit Panpiemras said after chairing a BoI meeting last Friday that interested manufacturers of eco-cars must apply for BoI promotional privileges by November 30. The BoI response to the application will be given within 30 days of the day the application is submitted.
Conditions which apply to those seeking promotional privileges include setting up factories for eco-car assembly, engines and parts with a total investment of not less than Bt5 billion. Production must be at least 100,000 units annually, starting from the fifth year of operation, engines must consume not more than 5 litres of fuel per 100 km, must comply with the Euro IV standard or higher for reducing emissions and emit not more than 120 grammes of carbon dioxide per kilometre.
Manufacturers must also produce at least four-fifths of the fixed auto parts in Thailand, including cylinder heads, cylinder blocks, crankshafts, camshafts and connecting rods.
In an attempt to boost eco-car production in Thailand, the Finance Ministry recently announced it would reduce the current 30 percent excise tax levied on small-to-medium size passenger cars to 17 percent. (TNA)

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