Dec 23, 2012

Thai Government policy on first car's tax break will cost 73 Billion Bahts

Director General of the Excise Department said that he projected the number of people filing for reimbursement of vehicular excise tax for their eligible first cars by December 31, 2012, would be for around 1.2 million vehicles (mostly small cars and pickups), and would cost the Thai government over 73 Billion Bahts to return the money to consumers.

The controversial policy was aimed at jump starting the economy afflicted by last year's major flood but some critics have said that it would hurt the economy in following years. Moreover, traffic jams in Bangkok and major cities would get worse.

Ref: Thai Insider news

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