The 15th National Assembly voted to pass the revised Law on Corporate Income Tax and the amended Excise Tax Law on June 14 morning, as part of its ongoing 9th session.
Lao President Thongloun Sisoulith has issued a decree that imposes higher excise tax on certain goods, aimed at curbing the import of luxury items in a bid to reduce the outflow of foreign currency.
A national committee on electronic vehicle (EV) policy of Thailand, also known as the EV board, on February 2 agreed in principle on a proposal to lower the excise tax on EV batteries from the current 8% to just 1% while offering a 24 billion THB (730 million USD) subsidy to the EV battery-producing industry.
The Ministry of Finance (MoF) has proposed the Government continue extending the deadline for excise tax payment for domestically-manufactured and assembled cars.
Thailand’s tax-collecting agency said the Thai government considers fining cigarette importers which set their retail prices below the prices listed before September 16, 2017 – the first day the new excise tax came into force.