Thailand will introduce a 45% tax on imported vintage cars in fiscal year 2026, a strategic move projected to boost government revenue by an additional THB1-2 billion (US$31.4-62.9 million) annually.
The regulations accompanying this tax will restrict these classic vehicles to use only on Saturdays, Sundays, and public holidays, although exceptions may be made for special events with prior police approval.
Revving Up Vintage Car Culture
Kulaya Tantitemit, the director-general of the Thai Excise Department, explained that the new tax aims to transform Thailand into a vibrant hub for vintage car exhibitions while also supporting the local car restoration industry. “We want Thailand to be the go-to destination for vintage enthusiasts,” Kulaya said, perhaps envisioning a future where restored beauties cruise down Bangkok’s streets like it’s 1955.
Who’s Affected? The Details of the Tax
This tax will specifically target vintage cars that are imported, with the initial classification declaring a vehicle must be at least 30 years old. Future regulations may provide further specifications on models and reference international pricing to ensure fairness. However, be advised: vintage motorbikes and cars already registered in Thailand will remain untouched by this levy.
Revenues Surpassing Expectations
The announcement comes on the heels of encouraging news from the Excise Department, which is optimistic about surpassing its revenue goals for the current fiscal year. For the first 11 months of fiscal year 2025, the department reported collections of THB489 billion, marking a 1.6% increase from the previous year.
Questions & Answers
What prompted Thailand to implement this new tax on vintage cars?
The tax aims to boost government revenue while positioning Thailand as a key player in the vintage car exhibition scene and supporting the domestic car restoration industry.
Who will be affected by the 45% tax on vintage cars?
The tax specifically targets vintage cars imported into Thailand, defined as vehicles that are at least 30 years old. It will not apply to vintage motorbikes or vehicles already registered in the country.
How much revenue is expected to be generated from this tax?
The government expects the new tax to raise between THB1-2 billion (US$31.4-62.9 million) annually, significantly contributing to the national coffers.
