Tax reduction for Eco Cars extended till the end of 2025!
(Photo Credit: Freepik)
The cabinet has recently approved the bill of the extension for tax reduction for Eco Cars to December 31, 2025.
Last month, the Thai Cabinet agreed and approved the extension of tax benefits for Eco Cars, which are fuel-efficient vehicles that meet international standards. The tax rate will remain at 14% until the end of 2028. The original set date was December 31, 2026, and tax rates would have reverted to 17% on January 1, 2027.
Additionally, the National EV Board also further discussed this matter, considering various impacts, weighing out the pros and cons. The conclusion drawn was that the Eco Car tax reduction period should be extended to 2025. This would not only ensure that the Eco Car period ends at the same time as second-generation Eco Cars, but also additionally assist in encouraging Eco Cars as a product champion for a while longer.
However, this may be the last extension of the Eco Car tax incentive. This is due to the need to transition to the era of electric vehicles (EVs) as per government policy.
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