
Thailand
Thailand, officially the Kingdom of Thailand and formerly known as Siam is a country at the centre of the Indochinese peninsulina in Southeast Asia. Thailand is the 50th largest country in the world and the 20th most-populous country.
Chapter 1: Economic and business environment
Demographics | Around 66 million people. |
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Capital | Bangkok |
Major cities | Samut Prakan, Nonthaburi, Udon Thani, Chon Buri |
Languages | Thai (th), English (en) |
GDP | 5,816.44 USD (2015) |
Unemployment rate | 0,9% in 2014 |
Main industries | GDP Composition by Sector: Industrial Production Growth Rate: Industries: |
Currency | THB Thai baht |
Interest rate | 2,80% |
Political key info | Thailand is constitutional monarchy and has switched between parialmentary democracy and military junta for decades. |
Inflation | -0,4% in 2017 |
Chapter 2 : Automotive market, segments & sales
Total Car park | 206 per 1000 inhabitants |
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New vehicle registrations (Cars, LCV, Trucks) | New Car Sales 2015 : 1,351,648 |
Model preference top 5 (total market) | Thailand best selling cars ranking in 2017 is dominated by the last generation of locally made Isuzu D-Max. |
Chapter 4: Taxation & legislation
4.1 Car Taxation | Car taxes are calculated based on different parameters : cylinder capacity, weight, emission. Special vehicles are taxed otherwise (tractors, motor cycles, ..) |
4.2 Income tax – Taxable persons | Private use is considered as a benefit in kind and the market price of such services needs to be included in the employee's personal income tax return |
4.3 Company car | The private use of a company car by the employee is considered as a rental of the car by the company to the employee and therefore treated as provision of services for VAT purposes |
4.4 Income taxes – drivers’ personal taxation | Costs incurred for the private use of a company vehicle are not deductible of the personal income tax. Fuel cost, when paid by the company in excess of the Governement rate, is treated as a taxable benefit |
4.5 Electric vehicles | Lower taxation than combustible engine cars |
4.6 Future developments | Tax incentives for eco friendly vehicles |
4.7 Legal background (import taxes) | High custom duties and import VAT are due on imported vehicles |
Chapter 5: Car policies
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