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Industry urges lead time

Automotive companies should not be affected by changes in automobile tax structures because they are in line with the government's environmental strategy, says Industry Minister Chaiwuti Bannawat.
Representatives from Isuzu, Toyota, Mitsubishi and General Motors visited Mr Chaiwuti to express their concern about the government's plan to restructure auto taxes, particularly for pickup trucks which claim a large chunk of Thailand's domestic and export market.
The new tax structure will be based on energy efficiency, lowering carbon dioxide emissions, and engine size. The new rate is expected to be finalised in April.
Last year, one-tonne pickups made up 43% of total domestic sales, passenger cars 44%, pickup passenger vehicles (PPV) 5% and eco-cars 2%.
"If auto companies exceed the new standards, they will actually pay less tax than before," said Mr Chaiwuti.
"We think they will be able to adapt because of the lead time we have provided, which is at least two years after the announcement of the new regulations. Although we have not defined the lead time yet, I personally think that two to three years is more than enough," said Mr Chaiwuti.
"They [auto companies] have been moving in this direction, as the government's strategy is not a new one."
Although the new rates have not been announced, Mr Chaiwuti foresaw a slight impact. For instance, he only expected an increase of 2-3% for PPVs, which currently require a 20% tax bill.
Suparat Sirisuwanangkura, president of the Thai Automotive Industry Association, wants more than a two-year period to adapt.

"If the new tax scheme forces us to invest in new equipment or engines, we do not agree with that because these aspects do not need to be defined, as auto trends are moving toward an environmentally friendly focus anyway," said Mr Suparat.

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