On March 12, 2024, The Cabinet approved in principle the measures to promote classic cars proposed by the Ministry of Finance. The key tax measures are as follows:

1. Excise tax on classic cars:

The Excise Department will define the definition, criteria, conditions, and characteristics of classic cars. The department will also set appropriate excise tax rates that are consistent with the import duty rates for the following categories:

HS 06.01: Passenger cars

HS 06.02: Motor vehicles with seating capacity not exceeding 10 persons

HS 06.03: Pick-up trucks

2. Exemption of import duty on classic cars:

Import duty will be exempted for classic cars under HS 87.03 (passenger cars only). This is to align with the definition of classic cars to be set by the Excise Department.

Background:

Currently, used cars and classic cars (used cars over 100 years old) are prohibited from being imported into the Kingdom of Thailand unless authorized by a government agency, according to the Ministry of Commerce's Announcement on Classifying Used Cars as Prohibited or Restricted Goods for Import into the Kingdom of Thailand B.E. 2562.

LAS / Legal Advance Solution

Thundthornthep Yamoutai

[email protected]