The Cabinet has given final approval for a new excise tax scheme covering smaller motorized vehicles including golf carts, ATVs, and buggies. This new scheme is expected to give the government an additional 400 million baht per year.
The Cabinet on Tuesday approved the new vehicle excise scheme covering smaller motorized vehicles, including three-wheeler trucks, golf carts, buggies, and all-terrain vehicles (ATVs).
The new excise tax is aimed at providing clarity on excise collection against newer forms of motorized vehicles while promoting the electric vehicle industry for environmental conservation.
Specific codes and rates for each of these vehicles will be updated on the vehicle and motorcycle section of the Ministerial Announcement governing the excise tax rates, as the excise taxes were not applicable for some of these items in the past.
This new excise tax will be applicable to golf carts, buggies, and ATVs operated either on more than 12 volts of electricity or on fossil fuel; as well as three-wheeler vehicles that operate in the same manner as motorcycles.
The government is expected to receive 400 million more revenue each year from the taxation, while the new, reduced rate for three-wheeler trucks would mean less revenue from this vehicle category.
This new voltage-based excise taxation scheme goes in line with other similar international tax rates while corresponding to Thailand’s direction and policy to serve as a manufacturing base for electric vehicles. (NNT)
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