Friday, July 21, 2017 - 17:54:01

Thailand to revise car import duty calculation

VNA Print

Illustrative image (Source: Bangkokpost)
Bangkok (VNA) – 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.

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

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

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

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

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