Thailand’s military-led government has plans for excise tax reform to increase revenue collection and align with global standards. The changes to the excise tax system are to terms regarding the way tax is calculated as well as the quantum of tax itself.
The Phase 2 of the Eco-Car Program builds upon the success of Phase 1. The new phase increases incentives but requires more aggressive volume commitments and more stringent requirements from the original equipment manufacturers (OEMs). The big question is on the sustainability and viability of the program given the depressed state of the market.
Thailand has become quite aggressive in putting policies in place and supporting infrastructure for the adoption of electric vehicles (EVs). The government’s current focus is on electric buses although some OEMs have been testing cars as well.
About this report
This analysis gives a detailed overview of the regulatory policies and programs in key ASEAN automotive markets. In Thailand, this includes the restructuring of the excise tax system, the Eco-Car Program Phase 2, and a roadmap for electric vehicles (EVs). For Malaysia, it covers the National Automotive Plan (NAP) 2014 and the implementation of a goods and services tax (GST). For Indonesia, the Low Carbon Emission (LCE) Program, a revision of the fiscal incentive scheme, and a new ministry decree on the vehicle industry are discussed. For Vietnam, the Automotive Master Plan and fuel labeling for passenger cars are covered. Finally, the Automotive Industry Roadmap 2022, the Clean Energy Vehicles (CEV) Incentives Bill, and the Investment Priorities Plan (IPP) 2014 are discussed for the Philippines.
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