Thailand offers additional incentives to encourage businesses switch to electric vehicles

Thailand is set to introduce special tax reductions for users of electric trucks and buses to encourage businesses to switch to green vehicles.

Friday, February 23, 2024 09:38

Bangkok (VNA) - Thailand is set to introduce specialtax reductions for users of electric trucks and buses to encourage businessesto switch to green vehicles.

As reported by the Nikkei Asia, under the programme,companies that have purchased domestically produced electric trucks and buseswill be able to deduct twice the actual price of the vehicles from their taxes,without a ceiling. Companies that import such vehicles can deduct 1.5 times theactual price.

The measure will be effective until the end of 2025, saidNarit Therdsteerasukdi, secretary-general of Thailand's Board of Investment, agovernment agency tasked with attracting foreign investments.

According to the official, the government has issued supporting measures forall segments of EVs, ranging from passenger EVs to motorcycles, trucks andbuses. It has also approved a measure for cash grants to manufacturers ofbattery cells.

With full support from the government to promote EVs,Thailand ranks as the top automotive producer in Southeast Asia and is in theworld's top 10 for auto production and total auto exports./.

VNA

#Thailand #special tax reductions #electric trucks and buses #green vehicles #Narit Therdsteerasukdi #vietnam news agency #vietnamplus

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