Thailand Approves Tax Breaks for Large Commercial Electric Vehicles

[snoop1130]

Photo courtesy of The Nation

 

The Thai Cabinet has approved a draft decree aimed at promoting investment in large commercial electric vehicles (EVs), offering generous tax incentives to companies. As part of this initiative, firms can claim double the expense for locally produced EVs and 1.5 times for imported ones, as highlighted by Deputy Government spokesperson Sasikarn Watthanachan.

 

These incentives specifically target the adoption of electric buses and trucks, with the tax exemption covering corporate income equivalent to the investment value in these vehicles. The provision applies from the date of the decree’s approval until December 31.

 

Eligible for these tax benefits are companies and partnerships that meet specific criteria. To qualify, businesses must submit comprehensive investment projects, payment plans, and EV details to the Revenue Department following specified guidelines.

 

Key conditions stipulate that the EVs must be new and capable of receiving transport licences under Thai land transport laws. The vehicles need to be depreciable under Section 65 Bis (2) of the Revenue Code and must not already be benefiting from other tax incentives or be involved in tax-exempt activities under existing investment promotion laws.

 

 

 

Additionally, the Cabinet noted discussions from the Electric Vehicle Policy Committee's February 21 meeting, which proposed expanding the scope of EV support measures under phase 2 (EV 3.5). This expansion includes passenger vehicles with up to 10 seats, aligning these with current subsidies offered to similar vehicles.

 

Electric motorcycles are also part of the expanded measures, particularly focusing on models equipped with alternating current (AC) charging capabilities. Organisations have been tasked with reevaluating these measures' suitability, while the Excise Department is directed to modify related announcements as recommended by the National Electric Vehicle Policy Committee.

 

This move underscores Thailand's commitment to transitioning towards greener transportation solutions by incentivising corporate investments in environmentally friendly vehicle technology, reported The Thaiger.

 

-- 2025-03-28

 

 

[Tropicalevo]

14 minutes ago, snoop1130 said:

Eligible for these tax benefits are companies and partnerships that meet specific criteria. To qualify, businesses must submit comprehensive investment projects, payment plans, and EV details to the Revenue Department following specified guidelines.

 

Roughly translates as 'big brown envelopes'.

[redwood1]

Face the truth....No one wants EVs.....

[motdaeng]

13 minutes ago, redwood1 said:

Face the truth....No one wants EVs.....

 

obviously, you are the "No one" .... 

 

it's probably too much to ask for you to back up your dumb, shallow claims with evidence and facts ...

[hotchilli]

6 hours ago, redwood1 said:

Face the truth....No one wants EVs.....

Noticed the other day our local authority has started using EV garbage trucks... now we only have to filter out the banging of bins instead of the revving diesel engine..