Thursday, September 15, 2011

First-Time Car Buyers Tax Deduction not very Street wise

Thai Government believes that its first-car buyer program will contribute to the growth of the automotive industry, which has become a driving force for the Thai economy.

The Cabinet, during its meeting on September 13, approved guidelines to refund taxes for first-time car buyers. At the same meeting, it approved a central fund of 100 million baht from the 2012 national budget to carry out the program and another fund of 30 billion baht from the 2013 national budget for tax refunds.According to the scheme, car buyers eligible for tax refunds must be at least 21 years old.