The Thai government is considering excise tax cuts on small cars to help first-time buyers and also help stimulate demand for the country’s fledgling “eco-cars” industry.
The plan being considered, according to deputy finance minister Boonsong Teriyapirom, is in line with a measures being drafted to help first-time home buyers. Here, eligible buyers are expected to be offered interest-free mortgages for homes costing up to THB 3 billion.
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In this case, the excise tax discount would apply to buyers of cars priced at up to THB 1 billion and would be capped at THB 100,000 per purchase. The excise tax discount would also result in a lower VAT rate.
Tony Pugliese
