TDRI concluded that the tax refund for 'first personal car' policy of previous Yingluck government was a complete financial disater for government as well as private sectors alike.
- Taxpayers lost tax revenue of around 82 billion Bahts.
- Car dealers suffered from false high demands, later had to give heavy discounts for their over stocks of cancelled reservations.
- Vehicle Manufacturers / Assemblers suffered because of a drastic purchase slow down in following year.
- Second-hand car dealters lost a lot of money since most people went to purchase brand new cars instead.
- Car rental services suffered because people bought their own cars instead.
- Financial firms suffered because of bad car loans, and extended payments.
- The state lost excision tax as well as value added tax (VAT) in part.
Ref: from facebook source