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Thailand to revise car import duty calculation

The Thai media said on July 3 that the country’s Customs Department is considering a plan to change the valuation method for imported automobiles.
Thailand to revise car import duty calculation ảnh 1Illustrative image (Source: Bangkokpost)
Bangkok (VNA) – The Thai media said on July 3 that thecountry’s Customs Department is considering a plan to change the valuationmethod for imported automobiles.

Earlier, luxury car importers have long complained abouttheir tax burden, including import duty, excise tax and value added tax.

The department also announced the test prices or referenceprices for cars that the department does not have the customs prices.

The test prices are set by country of origin using theretail car prices in that country, deducted by VAT as applicable and by therates specified in the announcement (43.46 percent for cars made in Europe, 37.11percent for Japanese-made cars and 46.45 percent for cars produced in theRepublic of Korea).

The result will be considered the free-on-board price to be used as the testprice.-VNA

VNA
#Thailand#luxury car importers#valuation method#imported automobiles#import duty#excise tax#value added tax#test prices#free-on-board
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