FTI to Hold Talks on EV Excise Tax Cut

[snoop1130]

 

BANGKOK (NNT) - The Federation of Thai Industries (FTI) plans to hold discussions with the Ministry of Finance on the implementation of a tariff reduction for electric vehicles (EVs). The talks are intended to address complaints that such a move would heavily favor EVs from China.

 

FTI Chairman Kriengkrai Thiennukul made the announcement after federation members complained that tariffs on EVs from China would be completely waived in line with the ASEAN free trade agreement with China. They noted that under the tariff cut regulation, EV levies for other nations would remain at a steep 40%.

 

The Thai government earlier approved a motion from the Ministry of Finance to reduce import tariffs for completely built-up (CBU) units of battery electric vehicles (BEVs).

 

Under the approved measures, BEVs with a retail price of up to 2 million baht are entitled to a lower import duty of 40%, down from 80%.

 

For BEVs retailing at between 2-7 million baht, import duties dip from 80% to 60%. This reduction is only awarded to CBU units and is expected to cost the government about 60 billion baht in revenue.

 

Kriengkrai said discussions between the FTI and the finance ministry are expected to pave the way for the type of EV tax restructuring that would be beneficial to all sides.

 

The adjusted regulation could also help to keep EV manufacturing bases in the ASEAN bloc. Kriengkrai warned that uneven tariffs for imported EVs would likely discourage investors from local EV production, further complicating efforts to elevate Thailand as the EV manufacturing hub of ASEAN.

 

-- © Copyright NNT 2022-06-08

 

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[khwaibah]

50 minutes ago, snoop1130 said:

BANGKOK (NNT) - The Federation of Thai Industries (FTI) plans to hold discussions with the Ministry of Finance on the implementation of a tariff reduction for electric vehicles (EVs). The talks are intended to address complaints that such a move would heavily favor EVs from China

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[Excel]

China really has some fantastic EV's and it would be good if they could be affordable to much of the population but first many more charging points must be installed nationwide so that the nation can benefit.  If only there were more electric pick-ups with long range so that the diesel belching polluters  could eventually become a thing of the past.  

[lujanit]

EV's regardless of a cut in import duty are just too expensive for ordinary people.