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Tuesday, March 19, 2024

Golf carts, buggies are about to be taxed in Thailand

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Thailand’s cabinet has given final approval for a new excise tax regime for smaller motorized vehicles, including golf carts, ATVs and buggies.  

This new scheme is expected to provide the government with an additional 400 million baht per year.

The cabinet has approved the new vehicle tax regime for smaller motorized vehicles, including three-wheel trucks, golf carts, buggies and all-terrain vehicles (ATVs).

The new excise duty is intended to clarify the collection of excise duties on newer forms of motorized vehicles while promoting the electric vehicle industry for environmental conservation.

The specific codes and rates for each of these vehicles will be updated in the Vehicles and Motorcycles section of the Ministerial Announcement regulating excise rates, as excise duties have not applied to some of these items in the past.

This new tax will apply to golf carts, buggies and ATVs that run on more than 12 volts of electricity or fossil fuels; as well as three-wheeled vehicles that operate in the same way as motorcycles.

The government is expected to receive 400 million more annual tax revenue, while the new reduced rate for three-wheel trucks would mean less revenue from this vehicle category.

This new electricity-based excise tax system is in line with other comparable international tax rates while aligning with Thailand’s direction and policy to serve as a production base for electric vehicles.

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