Finance Minister Apisak Tantivorawong said after the Cabinet meeting yesterday that the first measure will reduce excise tax for electricity-powered vehicles, which had been granted tax incentive by the Board of Investment, from 2 per cent currently to zero per cent, effective from January 1, 2020 till December 31, 2022. Thereafter, from January 1, 2023 to December 31, 2025, the tax rate will be set at 2 per cent, followed by 8 per cent in the year 2026. 

As for trucks fitted with a diesel engine, running on B20 and with CO2 emissions not over 200 grams per kilometre, the excise tax will be cut from 2.5 per cent to 2 per cent, he said.

The tax reduction will cost the government Bt1.5 billion in tax collection a year, but it would be better for the environment, he said.

Source: http://www.nationmultimedia.com/detail/Economy/30365245