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According to Thailand’s “World News†report on January 6, 2011, the Thai cabinet’s meeting approved the exemption and reduction of import tariffs on auto parts and aided the development of auto companies. The Ministry of Finance submitted two draft bills to the Cabinet, which were all approved by the Cabinet and were effective immediately.
The first decree put forward by the Ministry of Finance was to reduce the import tariffs on natural gas tanks, from the previous 17% to zero tariffs, until December 31, 2011, and impose a 10% tariff from January 1, 2012; The use of control equipment tariffs also dropped from 35% to zero, and a 10% tariff was imposed as of January 1, 2012; in addition, 12 types of tariffs, such as brake car imports and manual block accessories, were reduced from 30% to 10%; Tariffs also fell from 40% to 10%.
The content of the second decree is that the importation of large-scale transport vehicles, trucks, trucks, and passenger car accessories and equipment with more than 10 passengers is tax-free for 2 years. However, it must be domestically inaccessible parts and equipment, and the 1t truck is not exempt from taxation.
Thailand can produce its own accessories, this time did not get tariff preferences, such as batteries, exhaust pipes, paint, tires and so on. Although this policy of the Ministry of Finance will lead to a decrease in revenue, the advantages outweigh the disadvantages brought by the economic benefits, and it can also vigorously promote the development of the domestic automobile industry.