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Thailand takes EU to WTO anti-dumping ‘court’ on canned corn
The Thai Board of Investment (BoI) is offering an
exemption from corporate tax for a maximum of eight years for machinery
imported into Thailand for eco-car manufacturers on the condition that each
project must have a total investment of not less than Bt5 billion.
Deputy Prime Minister and Industry Minister Kosit Panpiemras said after
chairing a BoI meeting last Friday that interested manufacturers of eco-cars
must apply for BoI promotional privileges by November 30. The BoI response
to the application will be given within 30 days of the day the application
is submitted.
Conditions which apply to those seeking promotional privileges include
setting up factories for eco-car assembly, engines and parts with a total
investment of not less than Bt5 billion. Production must be at least 100,000
units annually, starting from the fifth year of operation, engines must
consume not more than 5 litres of fuel per 100 km, must comply with the Euro
IV standard or higher for reducing emissions and emit not more than 120
grammes of carbon dioxide per kilometre.
Manufacturers must also produce at least four-fifths of the fixed auto parts
in Thailand, including cylinder heads, cylinder blocks, crankshafts,
camshafts and connecting rods.
In an attempt to boost eco-car production in Thailand, the Finance Ministry
recently announced it would reduce the current 30 percent excise tax levied
on small-to-medium size passenger cars to 17 percent. (TNA)
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