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