Rise in tax on jet fuel ‘just due to supply and demand’

[rooster59]

Rise in tax on jet fuel ‘just due to supply and demand’

By The Sunday Nation

 

The government yesterday dismissed a suggestion that the increase in excise tax on aircraft fuel was caused by state funds running low.

 

Government spokesman Lt-General Sansern Kaewkamnerd said that the speculation was untrue as the country’s treasury reserves totalled Bt74.9 billion as of December.

 

“The government’s fiscal status has remained sufficiently strong. In the first quarter of the current fiscal 2017, the government continuously injected money into the economic system,” the spokesman said. 

 

Full story: http://www.nationmultimedia.com/news/national/30305698

 

 

-- © Copyright The Nation 2017-02-05

[ezzra]

As soon as fuel cost rise, we get a hip in our pocket, but I'm yet to see or benefit

when fuel cost comes down.....

[ukrules]

LOL, what a load of bullsh!t. Supply and demand, the more they buy the more you tax.

 

Lets see how many of these struggling domestic airlines go bust due to this.

 

[bokningar]

" He said the increase in excise tax for aircraft fuel, as well as other kinds of fuel, was in line with the principle of demand and supply in the world market. "

 

Demand for Thai tax on the world market?????? 

[jaltsc]

“Rise in tax on jet fuel ‘just due to supply and demand’ “

 

That's a load of BS.  All things being equal, in a free market economy, Supply and Demand usually determine the price of a commodity.

However, taxation is based solely on the needs of the government imposing those taxes. It is purely arbitrary. The increased taxes probably has more to do with counter balancing the shortage of money due to an imbalance in international trade, paying  for military equipment that will be used for maintaining control over the populace, and other government projects that will most likely help the wealthiest while ignoring the needs of the citizenry.   

[maewang99]

bull. Thailand agreed to the post COP21 and it's follow up on the aviation issue, the result of which last year is a head fake, and the real deal.  the head fake is "biofuels".

the real deal is that something as heavily subsidized as aviation is.... which wouldn't even be affordable for the general population otherwise.... is easily adopted. "price incentives" was how they worded it. yes? or was it "cost inventives".. I think "price".  when you combine that with Thai demographics and the need for much higher revenues just to stay Even Steven.... this is NO surprise at all..... and just as with land taxes...  only the beginning.

Thailand's revenue laws are very fair and economically sound.
 

fair and sound? yeah. look at USA. we need a VAT. and here you get a refund on corporate level tax on dividends... no way jose we would ever get that in the USA. I'm ex-Enrolled IRS. and a MS Tax Golden Gate. with only exception to Thai tax law fairness is on the use of nominees if you hold things overseas.

 

[daveAustin]

Ripoff Thailand.

[futsukayoi]

Treasury reserves totalled Bt74.9 billion as of December.  

 

That seems very low to me. That would get swallowed up in one medium sized infrastructure project.

[docshock13]

1 hour ago, jaltsc said:

“Rise in tax on jet fuel ‘just due to supply and demand’ “

 

That's a load of BS.  All things being equal, in a free market economy, Supply and Demand usually determine the price of a commodity.

However, taxation is based solely on the needs of the government imposing those taxes. It is purely arbitrary. The increased taxes probably has more to do with counter balancing the shortage of money due to an imbalance in international trade, paying  for military equipment that will be used for maintaining control over the populace, and other government projects that will most likely help the wealthiest while ignoring the needs of the citizenry.   

Beat me to it! As soon as I read the headline I thought, "This guy obviously failed high school economics." 

Worst part is, he and is buddies probably believe this malarkey and demand the public believe it, too. Poor Thailand. 

[Brer Fox]

3 hours ago, rooster59 said:

caused by state funds running low.

It appears now as if the affects of this free spending military government are starting to be felt. They know nothing about fiscal restraint. They glibly talk of injecting money into the economic system. More like money for submarines and tanks and trips to Hawaii.

Rest assured folks there are more tax increases on the way when the big items on the shopping list kick in. Like high speed trains and a fleet of combat aircraft.

[chainarong]

Rather a strange calculation, so that means if the demand drops off so does the tax. ..............................

[sanukjim]

Raising TAXES has nothing to do with "supply and demand". It is about the government collecting more TAXES. In Asia it is up 1.9% from last month but down .02% from this time last year. (IATA) Ref.

[FredNL]

Thai just believe everything what the government tells them. There is still a culture in Thailand: You don't have to think, we will think for you !!!

[Mook23]

7 hours ago, Brer Fox said:

It appears now as if the affects of this free spending military government are starting to be felt. They know nothing about fiscal restraint. They glibly talk of injecting money into the economic system. More like money for submarines and tanks and trips to Hawaii.

Rest assured folks there are more tax increases on the way when the big items on the shopping list kick in. Like high speed trains and a fleet of combat aircraft.

And the exquisite wines, diamond rings, vuiton bags, designer clothes, supercars, condos for mia nois, tiger penises for mia nois bedsport, etc... 

[dinsdale]

16 hours ago, rooster59 said:

the country’s treasury reserves totalled Bt74.9 billion as of December.

Just imagine how much this would be without the endemic corruption of this country. Top 5 families probably have more than this.