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Pattaya Daily News

21 April 2011 :: 12:04:13 pm 52987

Thai Government Waiving Oil Excise Tax

Thailand's government has decided to extend its capping of domestic diesel oil retail prices by waiving the oil excise tax, according to the statement made by Minister of Finance, Korn Chatikavanij on Wednesday
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Mr. Chatikavanij added that this decision would not affect the government’s budget disbursements for 2011.
The National Economics and Social Development Board (NESDB) has supported the government’s move to keep diesel prices below 30 Baht per Litre.

The diesel price cap will also help ease rising inflation, limiting it to 0.4 per cent and the impact on the gross domestic product (GDP) growth by 0.2 per cent.

Mr. Chatikavanij believed that the diesel excise tax waiver will contribute to the economic growth.
The Fiscal Policy Office (FPO) reported revenue earned by the government in fiscal 2011 should exceed the target by Bt133 billion.

Based on FPO estimation, waiving the oil excise tax for five months, cause a possible loss of Bt45 billion in revenue, will not impact this year’s budget disbursement, said Mr. Chatikavanij.

Raport By: mcot

Photo : Internet   Category : Thailand News

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