Industry Minister discusses motor-vehicle taxes with Japan

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BANGKOK, 22 September 2014 The Minister of Industry has discussed with the Japanese Minister of the Economy, Trade and Industry a restructuring of a proposed motor-vehicle tax reduction after Thailand lost over a hundred thousand million baht in tax revenue.

The Minister, Mr. Chakramon Pasukvanich, said after consultations with Mr. Daishiro Yamagiwa, Japan’s Minister of the Economy, Trade and Industry (METI) that Thailand suggested Japan reconsider its request to reduce the tax on motor-vehicles with an engine size of 300cc, imported into Thailand under the Japan – Thailand Economic Partnership Agreement (J-TEPA).

Meanwhile, Thailand proposes to increase its import quota of steel from 120,000 tonnes with zero percent taxes. The Ministry of Industry will immediately discuss with automotive entrepreneurs, the expected demand for steel imports and will report to the Ministry of Commerce before making proposals to Foreign Affairs for further negotiations.