Cabinet extends diesel tax cut for another month

Wednesday, 23 January 2013 By  NNT

BANGKOK, 21 January 2013  The Cabinet has approved the extension of the diesel tax reduction policy for one more month. However, the move is expected to cost the government 9 billion baht in its diesel tax collection revenue. 

Government Spokesman Tossaporn Serirak said the Cabinet has agreed to a 1-month extension for the collection of reduced diesel excise tax. Under the policy, diesel with the amount of sulfur of not more than 0.005% of its weight, generally known as Diesel B2, as well as diesel with fatty acid methyl ester of not less than 4%, or Diesel B5, are both taxed at 0.5 satang per liter.

The newest round of extension will begin from February 1st to 28th. According to the Spokesperson, this extension will likely reduce the government’s revenue from diesel excise tax collection by as much as 9 billion baht.

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