The Excise Department expects to dole out Bt85 billion in tax rebates for the first-car scheme, 13 per cent more than the earlier estimate of Bt75 billion, because of the high popularity of the programme.
Department director-general Somchai Poolsawat said in an interview with Krungthep Turakij TV yesterday that the number of vehicle purchases qualifying for the rebate was 1.19 million units as of December 27.
When the government launched this policy, it targeted only 500,000 units.
Car buyers applying for the rebate have until 4.30pm on Monday to do so.
Internet applications will be cut off at midnight on that day.
Since the launch of the first-car programme in 2011, the Excise Department has paid about 30,000 rebates worth Bt2.3 billion, Somchai said.
Easing the blow
"We pay the rebate after buyers have had the car for one year.
"This means those who bought the car this year will get their tax refund next year or in 2014," he said.
He added that these rebates would not affect the government budget because the department had collected excise tax from the carmakers at point of sale.
The gradual payment of the rebates through 2014 would also ease the blow to the public purse.
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Article source: http://www.thethailandlinks.com/2012/12/31/first-car-tax-rebates-expected-to-hit-bt85-bn/
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