BEVs to get up to 40 per cent import tariff exemption until next year
The Royal Gazette website on Tuesday published a Finance Ministry announcement on reduction of import tariffs for completely built up (CBU) battery electric vehicles (BEVs) in a bid to promote the use of EVs in Thailand.
The tariff reduction measures will be effective from May 4, 2022 until December 31, 2023.
Eligible vehicles are as follow:
1. Battery electric vehicles with less than 10 seats and costing under THB2 million will be exempted from import tariffs if the original tariffs are less than 40 per cent, and will be reduced by 40 per cent if the original tariffs exceed 40 per cent.
2. BEVs with over 30 kilowatts/hour battery and costing THB2 million to THB7 million will be exempt from import tariffs if the original tariffs are less than 20 per cent, and will be reduced by 20 per cent if the original tariffs exceed 20 per cent.
The tariff reduction for the two categories of EVs is among six measures proposed by the National Electrical Vehicle Policy Board, which received Cabinet approval in April to promote the use of EVs as well as EV manufacturing in Thailand.
Other measures include granting subsidy to buyers of selected EVs, reducing excise tax on BEV motorcycles, and reducing import tariffs on selected EV parts by domestic manufacturers.