BANGKOK: Thailand has increased excise tax on jet fuel for domestic flights to 4 baht (10 US cents) a liter from 0.2 baht, a senior finance ministry official said on Friday (27/01), sending airline shares lower.
The increase should generate the government more than 4 billion baht ($113 million) from domestic jet fuel consumption, which is expected at about 1.2 billion liters a year, Excise Department Director-General Somchai Poolsavasdi told reporters. Excise tax on lubricant has also been raised, to 5 baht a liter from zero previously, he said.
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Fuel for international flights is exempt from the tax. Shares in Thai Airways closed 2.2 percent down in a virtually flat stock market. Budget carrier Nok Airlines fell by 2.6 percent and Asia Aviation was down 4.6 percent.
