Excise tax on oil : To increase ? Yes ? No ? Now ? Later ? Choose your own version

Let’s play a little game…

Consider these reports published by 3 thai medias the same day, about the same event, AKA a statement from the Finance Minister regarding the excise tax on oil.

“No further excise tax cut for oil”
Deputy Prime Minister and Finance Minister Surapong Suebwonglee said it is not imperative for the government to perform excise tax cut for oil even though the global oil prices continue to sink.

Mr Surapong said oil prices in the global market could still fluctuate and the situation has to be closely monitored over the next two to three months. He therefore asked public members to help conserve energy although fuel prices remain low.

If the oil prices reduce to 70 to 80 US dollars a barrel, the government would have to revise its tax collection policy again, the minister said, and the government will definitely remove the oil subsidies after the six-month period as announced. (Bangkok Post)

———–

“Finance to Wait 2-3 Months before Considering Oil Tax Increase”
The Finance Ministry will wait a few months before deciding whether it will raise the country’s oil tax, while pondering the idea to raise the country’s excise taxes to make up for more than 30 billion baht of loss in state revenue due to the implementation of six new economic stimulus measures.

Finance Minister Surapong Suebwonglee said today that the government might soon raise excise tax on oil if the world crude price trades below the 100 dollars a barrel level. (TOC)

———–

“Finance minister insists on maintaining oil excise tax cut”
Finance and Deputy Prime Minister Surapong Suebwonglee on Monday insisted on maintaining the oil excise tax reduction issued earlier as part of the government’s six relief measures for six months despite a continued decline in fuel prices.

“We won’t yet lift the measure. We have to monitor whether oil prices will move on a downward trend or remain volatile.

“The public will be confused if we are uncertain about the policy implementation,” he said. (TNA)

Tasty, huh ? 😉

Now a few working hypothesis :

-Journalists at Bangkok Post, TOC and TNA are all very creative.

-Only some of them are creative, and one gave an accurate report about what the Finance Minister actually said…

-The Finance Minister is himself creative (or confused) and changes his mind, regarding to whom he speaks to.

Now, if you prefer to talk about the relationship between credibility and thai medias… well that’s another issue. 😉

As for… the excise tax on oil… I guess the only solution is to… wait.

We might have some new reports.

Later.

UPDATE
I think we might have the final word : check the article of Nation. And it’s a good reminder of the cost of the tax cuts on diesel and gasohol… for 6 months… “Since global prices fall, leading to cuts in retail oil prices, traffic is getting jammed again,” said the Deputy Finance Minister, adding that the excise taxes could be raised in steps”. 😉

The right neuron of the thai government understands that low price stimulate oil consumption… meanwhile the left neuron does everything it can to reduce the price of oil by cutting taxes… meanwhile the neuron in the middle says that we should curb our consumption of oil. 😉

I love this country.

1 Response to “Excise tax on oil : To increase ? Yes ? No ? Now ? Later ? Choose your own version”


  1. 1 Gloomy Observer 18 August 2008 at 1:51 pm

    Yep. Gotta love it. And that kind of clarity of thinking and error checking goes on at all levels of society. Fun and games.


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Thailand Crisis

Coup, Economic slowdown, Terror In the South... The situation is worsening in Thailand. Bumpy road like often before.

But this time, it's different.

The key to understand the present turmoil is the inevitable... succession of King Bhumibol.


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