BANGKOK, March 18 – The government’s tax rebate for first-car buyers has seen over 2,000 people opting out of the scheme due to financial constraints –a phenomenon which a senior financial official said was not worrisome.
Deputy Finance Minister Tanusak Lek-uthai said the number was minimal compared to the over one million people who joined the programme.
The government introduced its tax rebate for buyers of first cars last year. Car buyers were required to pay five-year installments during which they get a tax rebate each year.
He said the Finance Ministry has set up a committee to closely monitor the buyers’ capabilities in paying their installments and identify preventive measures, if necessary.
He described the scheme as successful in stimulating the economy while those joining the scheme were happy.
They bear in mind their duty to pay their debts during the agreement period, he said.