House of Representatives, Cabinet reduces diesel tax by 1 baht/liter, hoping to keep the price at no more than 30 baht/liter for 3 months until after Songkran. Accepts that 1 year and 8 months will be used to support oil costs of 172 billion baht.
Mrs. Radklao Inthawong Suwankiri, Deputy Spokesperson of the Prime Minister’s Office, revealed that the Cabinet meeting approved a reduction in the excise tax rate on diesel and other similar oil products to 1 baht/liter for a period of 3 months, starting on 20 January 2024, continuing until after the festival. Songkran 19 April 2024 accepts the reduction of diesel excise tax from 18 Feb. 2022 to 31 Dec. 2023, a period of 1 year 8 months, resulting in a loss of 172,000 million baht in revenue.
Such measures The government wants to continuously reduce the cost of living for the people. To stimulate the overall economy of the country through reducing energy costs Through cooperation between the Ministry of Energy Ministry of Finance Using the fuel fund and excise t
ax mechanisms as the main tools. In order to hold the retail price of diesel fuel at no more than 30 baht/liter, in the past period the Excise Department reduced the excise tax (No. 35) 2023 by 2.50 baht/liter for a period of 3 months from 20 Sep. 2023 to 31 Dec. 2023 to hold the retail price of diesel fuel to no more than 30 baht/liter.
This time, therefore, it is seen that the excise tax on diesel and other similar oil products should be reduced together with the Fuel Fund by 1 baht/liter for 3 months from 20 Jan. 2024 to 19 Apr. 2024, resulting in a loss of income. Receive a tax of 2,000 million baht/month, totaling 6,000 million baht, to keep diesel oil from rising rapidly. Until affecting the cost of living of the people and the business sector by the Ministry of Energy Still moving forward “Dismantle – reduce – release – build” to adjust the energy price structure to be concrete by 2024.
Source: Thai News Agency