Thailand is considering cutting the excise tax on fuel to ease cost-of-living pressures caused by the energy crisis, Finance Minister Ekniti Nitithanprapas said on Monday.
Ekniti said the tax cut was being considered as most other measures to reduce fuel costs had already been exhausted, including cuts to refinery margins and the use of Thailand’s Oil Fuel Fund to stabilise prices.
The proposed tax cuts would apply to blended biofuels such as E20 and B20, which Ekniti said would also help farmers.
“Any tax cut would be designed not to affect Thailand’s fiscal position, which is one of the key strengths considered by credit rating agencies,” he said.
Ekniti also said he would seek Cabinet approval on Tuesday to extend the consumer subsidy scheme.
Reuters
