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Thailand Tax Breaks For Australian Suppliers Of Car Parts

carThere is no doubt that Thailand intends to become a car-friendly country offering tax breaks to car parts suppliers thereby encouraging the latter to bring Australian car companies to Asia.

Thailand Board of Investment Deputy Secretary recently expressed its interest to visit Adelaide and Melbourne next month from the 6th to the 10th of August. The visit intends to bring Australian car manufacturers in the country by offering generous tax breaks. Fair enough, it is likely to redeem the local car industry upon the recent revelation of Ford downsizing with 440 workers to get laid off. From 209 car production each day, the company shall trim the numbers down to 148 starting in November. Such an unfortunate event came about after the $103M bailout sponsored by the State. According to opposition leader Daniel Andrews, it has left people asking why such huge job losses popped out after getting Victorians’ taxes already into Ford’s bag.

Ford’s decision did not only bring about dismay to individual workers, but also to officers above the organizational chart. As a matter of fact, Ford Australia Chief Bob Graziano himself was also disappointed of the news. Unfortunately, the significant reduction in large car sales has pinned down the automotive industry thereby forcing car companies, particularly Ford Australia, to take these unfortunate measures.

Nonetheless, Linsey Siede, director of Automotive Supplier Excellence, has encouraged Australian car companies to consider the opportunity offered by the Thai Board of Investment for offshore expansion. After all, the generous tax break might help out redeem the local car industry.

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