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FTI backs restructuring of vehicle taxation to boost local EV supply chains

FTI backs restructuring of vehicle taxation to boost local EV supply chains

Today 14:52Key points summarised by AI
  • The Federation of Thai Industries (FTI) strongly supports overhauling the automotive tax structure to incentivize domestic investment and manufacturing in the electric vehicle (EV) sector.
  • The proposed tax reforms aim to encourage local production, promote the use of domestic parts and raw materials, and integrate small and medium-sized enterprises (SMEs) into the modern EV supply chain.
  • This initiative responds to Thailand's rapidly transforming auto sector, marked by an 88% year-on-year increase in Battery Electric Vehicle (BEV) registrations and significant Board of Investment approvals for EV-related projects.
  • The restructuring seeks to ensure fair competition, transfer technology, upskill the workforce, and solidify Thailand's position as a global production and export hub for electric vehicles.
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