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Import tariffs on 157 items cut

The Cabinet Tuesday approved the reduction of import tariffs on 157 items, the action which would shed the government's revenue by Bt700 million per annum.

Pannee Stavarodom, director-general of the Fiscal Policy Office, said that the decision is aimed at increasing the competitiveness of local manufacturers.

The items covered products which are not manufactured in Thailand. Tariffs on 126 items - including silicon steel pressure valves and machinery for electric metal works - will be waived. Their tariffs were 1-30 per cent.

"Though this will reduce the government's revenue, it would benefit local industries particularly the food, auto and auto parts industries," Pannee said.

The Cabinet also raises the tariffs on floating glass sheets, to protect local manufacturers against cheap products from China.

- The Nation

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Import tariffs on 157 items cut

The Cabinet Tuesday approved the reduction of import tariffs on 157 items, the action which would shed the government's revenue by Bt700 million per annum.

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