The 14 depots – owned by Thai Public Port – have a combined capacity of 326,000 litres. All but one lie unused and it is hoped by the Thai Authorities that the tax exemption will help to jump start the oil depot renting business in the area.
The director of the custom department’s Customers Privilege Bureau, Choochock Ngaotheppitak, has confirmed, “the customs department had revised its regulations so to allow the establishment of such an export processing zone.” However, only the export tax on oil stored in the depots will be exempted.
Oil being kept for domestic sales “will still have to pay the tax as usual”.
Ngaotheppitak has confirmed that PTT Plc and the Petchaburi Terminal Company Ltd have also put in requests for their own oil depots to be included in the export processing zones and more oil firms are expected to follow suit.
