3:30 am - Thursday September 29, 2016

Thai cabinet approves tax refund for first-time car buyers

Thai cabinet approves tax refund for first-time car buyers

Thailand’s cabinet will discuss on Tuesday a tax rebate of up to 100,000 baht (S$4,091.48) for buyers of first cars, which could cost the government as much as 30 billion Thai baht in lost revenue, Finance Ministry officials said on Monday.

The measure by Prime Minister Yingluck Shinawatra’s new government are among a trove of populist policies aimed at boosting growth and cutting the cost of living, echoing the free-spending policies of her elder brother, former premier Thaksin Shinawatra.

‘We will propose the car-buying tax measure tomorrow,’ Deputy Finance Minister Boonsong Teriyaphirom told reporters. The ministry expects the scheme to cost the government between 9 billion and 30 billion baht, he said.

Phongpanu Svetarundra, director general of the Excise Department, told reporters the excise tax refund would be given to buyers of cars or pick-up trucks worth up to one million baht, and the car engine was capped at 1,500 cc.

Source: Reuters

Filed in: Features, Government

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