Thailand set to impose a carbon tax on 3 major economic sectors

BANGKOK – The Excise Department plans to impose a carbon tax on the energy, transport and industrial sectors to help Thailand achieve its goals of carbon neutrality by 2050 and net zero greenhouse gas emissions by 2063, as well as cut the cost of imported fuel.

The carbon tax will encourage more companies to use cleaner or renewable energy and reduce carbon dioxide (CO2) emissions by up to 30 percent, said Nutthakorn Utensute, director of the Tax Planning Bureau of the Finance Ministry’s Excise Department.

Nutthakorn did not provide details on the tax, including when it will be implemented, saying only that a study of the tax is underway and will be completed this year.

The energy sector accounts for 35  of CO2 emissions in Thailand because most electricity is generated by burning oil, natural gas, and coal, Nutthakorn said, adding that the transport sector accounts for 32…