Thailand: Fuel Duty Tax Reduced
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Monday, 03 March 2008 |
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Petroleum Minister Murli Deora has welcomed the proposal in the
union budget to replace six percent of ad valorem excise duty on
unbranded petrol and diesel fuels.
The reduction is an equivalent specific duty of Rs. 1.35 per litre. “The petroleum
minister welcomed the tax rationalisation by the Finance Minister P.
Chidambaram in excise duties on unbranded petrol and diesel,” said an
official statement released by the petroleum ministry.
The move will not impact retail prices, it said.
According to the statement, Deora also said reduction of import duty
on project imports from 7.5 percent to 5 percent would give a boost to
fresh investment in the fuels sector.
PetrolWorld 010308
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