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.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
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
