Cabinet may conclude the first car buyer policy

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BANGKOK, 6 May 2014,  – The Excise Department is proposing the cabinet conclude the Government’s first-car buyer tax rebate policy within the 2015 fiscal year.

The Director General of the Excise Department, Somchai Poonsawad, said that initially the cabinet didn’t set a definite period for the project; concluding the policy would simplify the rebate payment process, and enable the government to allocate funds for the scheme. He also said eligible policy participants should claim their purchased vehicles by September.

On April 28th, the government approved 3.1 billion baht out of a requested 8 billion baht to pay the tax rebates, surmising that the amount would be completely spent before the next government was formed. The Excise Department now has an 8.2 billion baht budget to make the payments when the approved sum is added to the remaining 5.1 billion baht, effectively enabling the department to make the payments until July. Mr. Somchai said his department is due to pay 3 billion baht in rebates on Friday, May 9th.