- The Ministry of Finance in Thailand has extended customs duty incentives for completely built-up battery electric vehicles (BEVs) imported from 1 January 2024 to 31 December 2025.
- The incentives apply to BEVs with a suggested retail price (SRP) that does not exceed THB 2 million.
- The customs duty incentives are an extension of previous incentives granted in 2022.
- There are two types of completely built-up BEVs eligible for the incentives: those with an SRP not exceeding THB 2 million, and those with an SRP exceeding THB 2 million but not exceeding THB 7 million.
- The incentives include duty exemption, duty reduction of 40%, and duty reduction on top of 40%.
- Importers must show a certificate of eligibility of the excise subsidy phase 2 under the EV3.5 measure to be eligible for the customs duty incentives.
- The Customs Department has issued a notification to set out the criteria and customs formalities for importers utilizing the duty reduction and exemption.
Source: insightplus.bakermckenzie.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
