Thailand to give more incentives to environmentally friendly industries

The Nation (Thailand)/Asia News Network

BANGKOK–Hi-tech and green industries and SMEs in Thailand will be given more incentives under tax reform, says a senior official at the Finance Ministry.

“The tax reform, if the government approves it, will be implemented in 2012,” said Naris Chaiyasoot, director-general of the Fiscal Policy Office. “We aim to collect more revenue from new sources, such as environment taxes,” Naris said. Manufacturers who pollute the air and water are expected to be hit.

The Excise Department will revamp so-called sin taxes — levies on alcoholic beverages and cigarettes. Naris said restructuring of the excise-tax system aimed to create a level playing field for local and foreign firms. He argued that currently local producers pay higher excise tax than firms based offshore.