Toyota appeals $327 million tax bill in Thailand
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TOKYO (Reuters) -- Toyota Motor Corp said its Thailand subsidiary company is interesting a Thai authorities order to cover additional taxes the Nikkei business daily said would complete over 11 1 1 billion baht ($327 million).
The Thai authorities has dominated that components imported from Japan to to put together the Prius gasoline-electric hybrid automobile in Thailand needs to be handled as full knock down kits, with an 80-percent tariff fee, instead of as car parts, with a-10% fee, a Toyota spokeswoman stated.
Over half of the components found in the locally constructed Prius are imported from Japan, she stated. Toyota will not reveal the portion of components procured in Siam.
The extra tax was owed on more than 20,000 Prius automobiles assembled at Toyota's Gate Way factory between 2010 and 2012, the Nikkei noted.
Toyota Motor Thailand Co. also makes gasoline engine and hybrid-motor Camry sedans, which weren't susceptible to extra tariffs because the bulk of components are procured locally.
Early in 2013, Toyota predict its sales in Siam in 2015 would rise 0.9 percent to 330,000 automobiles, following a sudden 27 percent decline the past year due to political chaos.
It called sector-wide increase in Thailand this year of 4.3%, to 920,000 autos. Despite Toyota's substantial presence in the marketplace, Siam is a comparatively small part of its own international sales, which it anticipates to complete 9 million automobiles in the current fiscal year that began in March
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