Thailand’s cabinet has approved a 3% cut in the excise tax on E85-compatible vehicles.
Go deeper with GlobalData
Energy minister Wannarat Charnnukul said the rate will be lowered to 22%-32% from the current 25%-35%, a move aimed at promoting the use of E85 petrol, a blend of 85% ethanol and 15% petrol.
This is part of the government’s plan to raise the share of renewable energy consumption to 20% of overall fuel use by 2022 from 7% currently.
Wannarat said the cabinet also slashed an import tariff by 20% to 60% for 2,000 units of imported E85-powered vehicles a year and exempted the import tariff for an additional seven auto part items for cars that run on E85 fuel.
The new rates are expected to become effective by 1 January.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
