The Bangkok Post reports that in a bid to boost national reserves, the Thai Finance Ministry has proposed that annual registration taxes for vehicles be doubled from the current rates.

The report says also that it has also been proposed that the extra levies applying to cars priced over three million baht, which are considered luxury goods, be increased by 100%.

In Thailand the annual registration tax on cars is levied according to their engine displacement on a sliding scale.

For cars with 600cc and less, the existing rate is one baht per cc (cubic centimetres); 1.5 baht for 601-1,300cc; 2 baht for 1,301-1,800cc; 2.5 baht for 1,801-2,000cc; 3.5 baht for 2,001-2,400cc; 4.5 baht for 2,401-3,000cc and 6 baht for 3,001cc and up.

There is an additional element for cars priced over three million baht.

The current extra costs for cars priced between 3,000,001-6,000,000 million baht are 10,000 baht, 6,000,001-10,000,000 baht at 20,000 baht and 10,000,001 and up at 30,000 baht.

The position of commercial vehicles is unclear although the Bangkok Post says that its source reckoned they could be facing 100% increases too.