Wisudhi said the government intended the new tax rates – to be announced on September 16 – will be revenue neutral. The calculation of the tax amount will be based on suggested retail price rather than current ex-factory, or CIF, price. Legislation enabling the change in the tax system has been passed by lawmakers, but the new tax rates will need Cabinet approval. If the suggested retail price of a product is deemed to be unrealistically low in order to pay less tax , tax officials can ask the manufacturer to pay a bigger tax amount. Nutthakorn said the new tax rates to be applied in the motor vehicle industry may be announced before September 16.

Source: The Nation Bangkok July 20, 2017 18:00 UTC