Breaking News

Breaking News. Image: GoodManPL (Pixabay).

Flood-hit Thailand auto industry gets relief with tariff exemption

The government is offering much-needed respite to the auto industry with an exemption from import tariffs for eight months on completely built units (CBU), parts and machinery in a bid to save the jobs of more than 200,000 workers.

While Honda Automobile (Thailand) is the only company to benefit from the CBU imports as its assembly plants in Rojana Industrial Park are inundated, others will enjoy zero tariff on the import of parts and machinery. The Finance Ministry says without the waiver, Honda would have had to pay 80 per cent of car value as CBU import tariff. Tariffs on parts range from 0-30 per cent, while that on machinery is 0-5 per cent.

Read more: The Nation

Share this article

Leave a Reply

By using the site you agree and accept the terms of this Privacy and Cookies Policy. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.