The Thai government is considering extending the excise tax cut on diesel, which is set to expire on July 20. Prime Minister Prayut Chan-o-cha directed the Finance Ministry and other relevant agencies to evaluate the feasibility of prolonging the tax reduction.

 

Energy Minister Supattanapong Punmeechaow revealed that the Finance Ministry has been tasked with determining the appropriateness of an extension. This decision will be based on a study that must first be submitted to the Election Commission, in compliance with the law.

 

Finance Minister Arkhom Termpittayapaisith confirmed that the ministry is in discussions with the Energy Ministry on a joint approach to support the tax cut. If it is not feasible to continue, Arkhom mentioned that some advisors believe the Oil Fuel Fund mechanism could still be utilised through effective management to oversee diesel prices.

 

The government implemented measures to reduce the excise tax on diesel in February of last year, aiming to ease the cost of living. The Finance Ministry reported that the previous seven reductions in diesel fuel excise taxes significantly impacted state revenue collection, amounting to a loss of up to 158 billion baht.

 

By Alex Morgan

Caption: Photo courtesy of Shutterstock

 

Full Story: https://thethaiger.com/news/business/thai-government-weighs-extending-diesel-excise-tax-cut-beyond-july

 

-- © Copyright Thaiger 2023-06-14

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

The most versatile and flexible rental investment and holiday home solution in Thailand - click for more information.

Forgive me if I'm wrong but it is not the Thai Government any longer. It is a caretaker government. A caretaker govt which has been overwhelmingly voted out by the popular vote.

15 hours ago, dinsdale said:

Forgive me if I'm wrong but it is not the Thai Government any longer. It is a caretaker government. A caretaker govt which has been overwhelmingly voted out by the popular vote.

555