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THAILAND: Full Excise Tax Exemption Mooted for Domestically Produced Electric Vehicles

The 8% excise duty on full Electric Vehicles (EVs) produced in the country is to be waived in line with a new proposal by the Excise Department (ED). In order to ensure their eligibility for this tax exemption, manufacturers must begin EV production in advance of the three-year schedule that is currently applicable to those enjoying an existing 2% reduced excise duty incentive scheme (as offered by Thailand’s Board of Investment (BOI)).

The move is the latest in a series of measures aimed at boosting the country’s EV and EV components manufacturing industry. A firm date for the implementation of the ED scheme, however, has yet to be announced.

Content provided by Picture: HKTDC Research
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