Finance Ministry to lower auto tax to ready Thailand for AEC

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BANGKOK, 7 September 2012  – The Finance Ministry is poised to lower taxes on automobile in a bid to ready Thailand for the ASEAN Economic Community (AEC) in 2015.

Finance Minister Kittiratt Na-Ranong said on Thursday that the Finance Ministry is considering a tax cut for manufacturers of energy-saving vehicles to 10 percent and for those who produce vehicles that run on gasohol to 20 percent.

Mr. Kittiratt stated that the planned policy is aimed at helping Thailand ready for the emergence of AEC in 2015, especially in the area of environmental conservation.

Moreover, the Finance Ministry is planning to set up an environment fund to promote such conservation awareness in the country, with the Board of Investment chosen to take the lead in this campaign.

In addition to the auto tax cut, the Finance Ministry said that tax privileges for industries which have made use of alternative energy or solar power may also be granted.