Thailand cuts tax on small cars

Newswire

BANGKOK, July 27 (Reuters) - The Thai cabinet approved a consumption tax cut for small cars on Tuesday as part of a policy to encourage the use of fuel-efficient vehicles. The consumption tax on sedans with engine sizes of up to 2,000 cc. was being reduced to 30 percent from 35 percent, a senior Finance Ministry official told reporters. "The new tax structure is aimed at saving energy and at persuading people to buy smaller cars," Somjainuek Engtrakul said. The consumption tax on ...

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