' Green' Tax Breaks Get Green Light

[george]

'Green' tax breaks get green light

BANGKOK: -- The government today reiterated its commitment to energy conservation by endorsing a raft of tax breaks aimed at encouraging private sector investors to install 'green' technology.

Proposed by the Revenue Department, the measures are intended to boost energy efficiency and act as an incentive to the industrial sector to replace fuel-guzzling, or polluting technology, with more environmentally friendly methods of production.

Announcing the cabinet's endorsement of the proposals, the Revenue Department's Director-General, Sirote Swasdipanich, said that businesses switching to 'green' technology would have the costs of investment in the new technology deducted from their income tax over a five-year period.

Mr. Sirote, who predicted that over 1,000 producers would sign up for the tax breaks, admitted that the new measures were likely to cause a Bt3.2 billion dent in the department's tax revenue, but expressed confidence that the measures would help save money on fuel imports.

--TNA 2005-04-26