Comptroller-General Short Of Funds To Pay For First-Car Buyer Rebates In April

[salapau]

So scrap the stupid deal, too many are submitting false claims. Direct the money to the orphanages, the less privelaged and the smog in the north.

[theajarn]

Seems typical of this govenrment, implement a rebate scheme or what ever and not think further than how many votes they can get, well here is the result no money to pay back, peoples lives can get even harder with not enough income to pay the banks WHAT A BUNCH OF W@!#$#@!$@!ERS and incompetents these politician are, should get there salary deducted for every cock up they make!

Deducting their salary won't do a thing. They make hundreds times more money when they fleece the Thai lemmings liek so. You could pay these guys nothing to "do their job" and they'd still earn billions through corruption.

Which is an interesting thought. The Thai people pays these roaches to fleece them. Imagine -- paying someone to steal your money. How ironic, Thailand.

[kimamey]

what many smug posters here over look is that Thailand is not carrying a fraction of thee debt their own countries are carrying.

This is a hiccup in the car scheme, not a major brain fart.

it certainly does not justify the righteous hysteria i am reading here.

What some posters seem to overlook is that the excise tax repayment should be a planned activity related to excise tax received on cars in the scheme sold in March 2012. That's totally unrelated to the country debt level in either Thailand or abroad. Here we simply have a case of mismanagement, bad or no planning. A policy which was ticked off upon the start of it and not on completion.

Actually reading your post has reminded me that the tax has already been paid so it should be there to pay back. I seem to remember a few PTP supporters on here saying that it wasn't going to cause any problem as it would have zero economic implications. I've looked for these posts but I can't find them.

[phantomfiddler]

My exact thoughts, the house of cards is crumbling, but you have to be constructive and look on the bright side .... Yingluck does have a wonderful smile !

A house of cards and there is a gust of wind on the horizon

[jonclark]

Well that is good news. Every day under a PTP government seems to start with either a political U-turn; a sob story about lack of money / overspend in various depts; political backstabbing and in fighting that stinks of corruption, criminality, nepotism or stupidity (or combinations of).......Or a hub story!

At least our news is consistent.

Well done, another day starts with 'good news' from PTP led policies.

Next thing you know they will just start printing money like other counties..... ;-)

We can but hope eh?

[jonclark]

I Know! Give the people the value in rice!

Oh wait. They don't have enough money to pay the farmers for the rice scheme fraud either.

Maybe they could take money for the car rebates and the rice scheme from the borrowed money for the flood control scheme fraud. It hasn't been spent on flood control. Surely it sits safely in the treasury.

What a house of cards Thailand is.

They should just do what the broke Australian government is doing. Borrow $100million a day from the Chinese (not denied by the World's greatest treasurer)...Problem solved

what many smug posters here over look is that Thailand is not carrying a fraction of thee debt their own countries are carrying.

This is a hiccup in the car scheme, not a major brain fart.

it certainly does not justify the righteous hysteria i am reading here.

Indeed you are right.

Thailand is carrying a fraction of the debt of some more developed countries - but the general feeling is that give it a couple more years of consistent good news from PTP and Thailand will be right up (or down) there with them.

[AnotherOneAmerican]

Why don't they just print some more money?

It works for America.

(I see I was beaten to it in post 59)

Edited March 26, 2013 by AnotherOneAmerican

[ZhouZhou]

Amazing with all these bad policies and yet the baht gets stronger. Is Europe and the rest of the world this bad off that the baht can get stronger with these failed and foolish policies?

its all part of Thaksins masterplan. he does that with skype.

[waza]

No wonder Thaksin"s government is desperate to borrow that 2.2 trillion baht fast, to plug the massive funding black holes. Why do I have the feeling it will all end in tears?

sniff

Edited March 26, 2013 by waza

[khunken]

It is mismanagement as pointed out by Rubi. The tax has been paid so where has that money gone?

Presumably into consolidated revenue of the Revenue authorities. The government has been spinning the 'extra revenue' anounts received in tax so why is the pot for the refunds almost dry?

No doubt they'll work it out but (again) if they can't manage this relatively petty cash scheme, it boggles the mind thinking about ways they can screw up the B2.2Tn scheme.

[Locationthailand]

Just follow the US example - go print it - who cares?

[GentlemanJim]

well the issue is simple really. Someone has stolen the money!

All the rebate money has already been paid by those that bought the cars. The finance companies have paid for the cars and the car companies pay the excise duty on each sale. The money would (you would think) have been syphoned off into a separate fund to pay everyone back, no need for Government injected funds at any stage. BUT the money is not there so where is it? Did it pay for other populist policies like Tablets and Rice, or has it gone straight to the man in Dubai via Hong Kong???

[dominique355]

Up to 38 billion baht to pay for the scheme? Think again!

1,000,000 cars and each 100,000 baht discount = 100 billion baht

And they initially thought 7 billion would be enough!

How much longer can these guys go only like totally clueless amateurs?

[kotsak]

Up to 38 billion baht to pay for the scheme? Think again!

1,000,000 cars and each 100,000 baht discount = 100 billion baht

And they initially thought 7 billion would be enough!

How much longer can these guys go only like totally clueless amateurs?

100K baht is the maximum discount one can receive.. Not eveyone receives that amount..

[hellodolly]

I Know! Give the people the value in rice!

Oh wait. They don't have enough money to pay the farmers for the rice scheme fraud either.

Maybe they could take money for the car rebates and the rice scheme from the borrowed money for the flood control scheme fraud. It hasn't been spent on flood control. Surely it sits safely in the treasury.

What a house of cards Thailand is.

They should just do what the broke Australian government is doing. Borrow $100million a day from the Chinese (not denied by the World's greatest treasurer)...Problem solved

what many smug posters here over look is that Thailand is not carrying a fraction of thee debt their own countries are carrying.

This is a hiccup in the car scheme, not a major brain fart.

it certainly does not justify the righteous hysteria i am reading here.

Indeed you are right.

Thailand is carrying a fraction of the debt of some more developed countries - but the general feeling is that give it a couple more years of consistent good news from PTP and Thailand will be right up (or down) there with them.

Why do people want to justify stupid spending and running up the national debt by saying other countries are worse.

Makes no sense to me what so ever. If there is no reason for borrowing don't do it.

In stead this pack of fools makes up reasons to do it and run up needless debts.

In this case they have worsened two exsisting problems with this needless scheme.

1 they haved made traffic congestion worse

2 they have added to the smog

and in many cases added more dept load to families than they can successfully carry.

Yet people justify it by saying the National Debt load is less than other countries.

Now if they were going to use the money to reduce smog and traffic congestion that would make sense.

[jackspratt]

Up to 38 billion baht to pay for the scheme? Think again!

1,000,000 cars and each 100,000 baht discount = 100 billion baht

And they initially thought 7 billion would be enough!

How much longer can these guys go only like totally clueless amateurs?

100K baht is the maximum discount one can receive.. Not eveyone receives that amount..

Ouch!

Facts like these are generally not welcome on the forum - it tends to fire up those with tunnel vision, and little ability to think or research for themselves.

[smedly]

FLEECED

The cheap cars,overpriced rice,free computers.A government with no moral hazard,sheep unaware how sharp the butchers knife.

and now they want a 2 trillion loan - keep the feet for dancing folks, all of this I predicted

[waza]

Up to 38 billion baht to pay for the scheme? Think again!

1,000,000 cars and each 100,000 baht discount = 100 billion baht

And they initially thought 7 billion would be enough!

How much longer can these guys go only like totally clueless amateurs?

100K baht is the maximum discount one can receive.. Not eveyone receives that amount..

Ouch!

Facts like these are generally not welcome on the forum - it tends to fire up those with tunnel vision, and little ability to think or research for themselves.

actually if they budget for the maximum rebate or set a ceiling to the rebate then they wouldn't get these nasty surprises. However, that would be acting fiscally responsible, but that's not this governments forte,

Edited March 26, 2013 by waza

[biplanebluey]

I'm sure the government will find the money but it needs to be quick. If you've got someone just coping with the repayments the rebate will be a big help and might be the difference between defaulting and just coping.

I sort of feel that this story is all very well but if the financial companies were to dig a bit deeper they may well find that they are putting a lot of people into debt unwittingly. By that I mean that the suggestion of a car suddenly being 100,000 bt cheaper may still be too much for them.Apart from that I hear that there is a lot of fiddling going on with the paperwork,so if the scheme fails it may save some prospective buyers a lot of money and embarrasment----------Just my opinion---------- Dougal the Kiwi

[biplanebluey]

No wonder Thaksin"s government is desperate to borrow that 2.2 trillion baht fast, to plug the massive funding black holes. Why do I have the feeling it will all end in tears?

I think he is visualising Yingluck and trying to hide a snjgger !!!!!!

thaksin cries.jpg sniff

[ginjag]

Does the government get 200,000 tax say on a toyota vios??? if so why do n't they have the money to pay the 100,000 rebait (rebate) promissed. Not forgetting the gigantic tax lopped onto more expensive cars. Likened to the bitch dog on heat---can take it but can't give it.

Edited March 26, 2013 by ginjag

[kotsak]

Does the government get 200,000 tax say on a toyota vios??? if so why do n't they have the money to pay the 100,000 rebait promissed. Not forgetting the gigantic tax lopped onto more expensive cars. Likened to the bitch dog on heat---can take it but can't give it.

Correct but don't forget the rice scam.. Money probably were funneled there..

[jackspratt]

Up to 38 billion baht to pay for the scheme? Think again!

1,000,000 cars and each 100,000 baht discount = 100 billion baht

And they initially thought 7 billion would be enough!

How much longer can these guys go only like totally clueless amateurs?

100K baht is the maximum discount one can receive.. Not eveyone receives that amount..

Ouch!

Facts like these are generally not welcome on the forum - it tends to fire up those with tunnel vision, and little ability to think or research for themselves.

actually if they budget for the maximum rebate or set a ceiling to the rebate then they wouldn't get these nasty surprises. However, that would be acting fiscally responsible, but that's not this governments forte,

I guess that they did set a maximum rebate - TBH100,000. By your definition, does that mean they were acting "fiscally responsible"?

How could they set a ceiling - given that they had no idea how many vehicles, and of what specification, would be sold under the scheme. Does that mean the first-in buyers would receive the maximum, and those who purchased on December 31 would receive a bit of whatever was left?

ps I don't believe this government has much "forte", but again, facts and a bit of analytical thinking never go astray, even on TVF.

Edited March 26, 2013 by jackspratt

[waza]

Up to 38 billion baht to pay for the scheme? Think again!

1,000,000 cars and each 100,000 baht discount = 100 billion baht

And they initially thought 7 billion would be enough!

How much longer can these guys go only like totally clueless amateurs?

100K baht is the maximum discount one can receive.. Not eveyone receives that amount..

Ouch!

Facts like these are generally not welcome on the forum - it tends to fire up those with tunnel vision, and little ability to think or research for themselves.

actually if they budget for the maximum rebate or set a ceiling to the rebate then they wouldn't get these nasty surprises. However, that would be acting fiscally responsible, but that's not this governments forte,

I guess that they did set a maximum rebate - TBH100,000. By your definition, does that mean they were acting "fiscally responsible"?

How could they set a ceiling - given that they had no idea how many vehicles, and of what specification, would be sold under the scheme. Does that mean the first-in buyers would receive the maximum, and those who purchased on December 31 would receive a bit of whatever was left?

ps I don't believe this government has much "forte", but again, facts and a bit of analytical thinking never go astray, even on TVF.

Are you being deliberately obtuse or are you really that dense? Being fiscally responsible mean the government would decide how much they can afford to spend on this scam without breaking the budget.

[ALFREDO]

How much would my wife's granny have been rebated on a 420k car I rather fancy?

About 60 - 65.000.- Baht, the brother of GF is in the books.

[jackspratt]

Ouch!

Facts like these are generally not welcome on the forum - it tends to fire up those with tunnel vision, and little ability to think or research for themselves.

actually if they budget for the maximum rebate or set a ceiling to the rebate then they wouldn't get these nasty surprises. However, that would be acting fiscally responsible, but that's not this governments forte,

I guess that they did set a maximum rebate - TBH100,000. By your definition, does that mean they were acting "fiscally responsible"?

How could they set a ceiling - given that they had no idea how many vehicles, and of what specification, would be sold under the scheme. Does that mean the first-in buyers would receive the maximum, and those who purchased on December 31 would receive a bit of whatever was left?

ps I don't believe this government has much "forte", but again, facts and a bit of analytical thinking never go astray, even on TVF.

Are you being deliberately obtuse or are you really that dense?

Was that a moment of introspection for you?

Were you able to concentrate for long enough to get through my entire post - it wasn't that long, or even particularly intellectually challenging?

Edited March 26, 2013 by jackspratt

[chrisrazz]

As usual for this forum there is a readiness jump in boots and all without knowing the detail.

Firstly, it is up to the finance company to approve applications for purchase where finance is required, this is based on the full price and does not factor the rebate.

2nd, the excise is paid at the time of purchase and rebated 12 months following the purchase. (rubi is quite correct here, the money to be paid this April was collected last March).

3rd. If the vehicle is sold within 5 years then the rebate is reclaimed. This no doubt includes repossessions.

4th. The rebate scheme is only available for vehicles below 1500cc produced or assembled in Thailand.

One could argue that the rebate scheme has encouraged buyers into the market. More importantly the scheme has stimulated the motor industry, encouraging foreign investment and creating jobs. Those persons defaulting and having vehicles repossessed or simple selling the vehicle within 5 years will find themselves owing the government.

Those of you that argue that there are too many cars on the road, I suggest you set and example and use public transport or move your high horse somewhere less populated.

[zydeco]

Be careful folks, if Thaksin and his gang have been watching the Cyprus situation you may suddenly find your bank account has been dipped to " Help the cause ".

My wife has already beat them to it.

[khaowong1]

I Know! Give the people the value in rice!

Oh wait. They don't have enough money to pay the farmers for the rice scheme fraud either.

Maybe they could take money for the car rebates and the rice scheme from the borrowed money for the flood control scheme fraud. It hasn't been spent on flood control. Surely it sits safely in the treasury.

What a house of cards Thailand is.

They should just do what the broke Australian government is doing. Borrow $100million a day from the Chinese (not denied by the World's greatest treasurer)...Problem solved

what many smug posters here over look is that Thailand is not carrying a fraction of thee debt their own countries are carrying.

This is a hiccup in the car scheme, not a major brain fart.

it certainly does not justify the righteous hysteria i am reading here.

Don't worry, their on their way.. at the rate their going, they'll be there soon enough. Remember the 1st Home Buyers scheme in the US? look how well that turned out.

[EyesWideOpen]

well the issue is simple really. Someone has stolen the money!

All the rebate money has already been paid by those that bought the cars. The finance companies have paid for the cars and the car companies pay the excise duty on each sale. The money would (you would think) have been syphoned off into a separate fund to pay everyone back, no need for Government injected funds at any stage. BUT the money is not there so where is it? Did it pay for other populist policies like Tablets and Rice, or has it gone straight to the man in Dubai via Hong Kong???

That was my first thought as well. When the car was sold the tax was paid. I assume into some kind of account. Then a simple matter of refunding a percent of that money back to the car buyer. So if the money is not there, that means it has been siphoned off. Either to some other hair brained government program, or was looted somehow by personal corruption. Somebody said one time that Thaksin had elevated corruption to levels old corrupt politicians of yesteryear could scarcely dream of. I think this program is part of that , with billions and billions of baht now missing.

My guess is that Yingluck will be the fall woman for when all this crap is exposed, and then She Who Must Be Obeyed, Ms. Yaowapa, will step in and become clone number 4. Or is it clone number 5, I am losing track. And the nightmare rolls on...

Edited March 26, 2013 by EyesWideOpen