100,000 first-car buyers expected to get late tax refunds

[Lite Beer]

100,000 first-car buyers expected to get late tax refunds

BANGKOK, 21 April 2014 (NNT) – The Excise Department has reported it is running out of funds to reimburse people joining the government’s first-car buyer scheme, admitting that up to 100,000 of the car buyers might not receive their tax rebates within the current fiscal year.

Director-General of the Excise Department Somchai Pulsawas made known that the department had been allocated only 40 billion baht out of the requested 50 billion for the due payments under the first-car policy. As a consequence, he said the department was left 10 billion baht short.

Since the tax refund rate was set by the government at 100,000 baht per head, the calculation indicated that the budget would not be enough for 100,000 eligible car buyers. The unpaid group would need to wait for their rebates until a new budget is allocated in fiscal 2015.

At the moment, Mr Somchai pointed out that the budget was standing at only 9 billion baht and was being dispensed quickly. In accordance with the rebate applications, another 4 billion baht is set to be paid out this month. With as many as five months left in fiscal 2014, the Excise Department might need to limit the amount of tax refund at only 1-2 billion baht per month if no more budgets are injected by the government.

-- NNT 2014-04-21

[TVGerry]

Oh and we're surprised at this? What would make me surprise if this government actually pay the first time car buyers.

PTP promises. Every promise they've made has turn to sh%t.

[WoopyDoo]

Just another to join the list of failed populist policies.

If the PTP come out with yet another list of populist policies for the next election campaign, they should dissolved on the spot!

[kurnell]

Perhaps they'll promise everyone a free house and a million baht during the next election?

[givenall]

first farmers, now car buyers, who is next to get screwed by Mr. T.. I guess now we know where all the money has gone..................

[surangw]

in thailand, expect ( wish) in one hand, poop in the other hand, guess which one fills up first

[NongKhaiKid]

first farmers, now car buyers, who is next to get screwed by Mr. T.. I guess now we know where all the money has gone..................

But, but Thailand's finances are in good shape, Mr. White Lie told the IMF only a couple of weeks ago and he's a respected government minister

[JRSoul]

If funds are running out, why reduce expenditure rather than pay out first come, first served, on time, as far as possible?

Are some customers due in later months to be given preferential treatment?

[ezzra]

Theses car buyers are just one group of long list of people waiting with the hands starched out

for their money from the government, and I guess some of the 2 trillion baht loan was supposed to pay

for all those failed populist schemes...

[Costas2008]

Next thing is to see the first time, unpaid, car buyers protesting outside the finance ministry and dumping their cars on the front gate.

[hendy6741]

How many people that has commented here has took part in this scheme? Everyone I know that has bought a car under this scheme has recieved their monies due to them and I know of two people that have recieved emails saying that they will be paid at the next payment date. Seems to me that there is people on here that spout crap about things that they know little or nothing about, typical bar stool gossiping

Sent from my GT-N8000 using Thaivisa Connect Thailand mobile app

[ginjag]

EXPECTED, also the rains are EXPECTED

[ggold]

How many people that has commented here has took part in this scheme? Everyone I know that has bought a car under this scheme has recieved their monies due to them and I know of two people that have recieved emails saying that they will be paid at the next payment date. Seems to me that there is people on here that spout crap about things that they know little or nothing about, typical bar stool gossiping

Sent from my GT-N8000 using Thaivisa Connect Thailand mobile app

Actually it was the OP that spouted off how the government would fall short of the funds needed to pay back all the first time car buyers.

the typical barstool gossiping is from you me thinks!

[darren84310]

How many people that has commented here has took part in this scheme? Everyone I know that has bought a car under this scheme has recieved their monies due to them and I know of two people that have recieved emails saying that they will be paid at the next payment date. Seems to me that there is people on here that spout crap about things that they know little or nothing about, typical bar stool gossiping

Sent from my GT-N8000 using Thaivisa Connect Thailand mobile app

Maybe they are a little fast with the criticism, but then the government has admitted that they don't have enough funds for an election promise, so maybe it's justified.

Where in the country do you stay?

[fab4]

first farmers, now car buyers, who is next to get screwed by Mr. T.. I guess now we know where all the money has gone..................

But, but Thailand's finances are in good shape, Mr. White Lie told the IMF only a couple of weeks ago and he's a respected government minister

Even Moody's, which rates financial health around the world, says that Thai economic fundamentals are strong enough to withstand political fallout. Its latest report notes that Thailand's credit strength is enough to cushion the damage. The government's debt structure is a key strength in this regard. This is thanks to the range of maturities of government bonds. Notably, Thailand is one of the few countries in the world to issue 50-year bonds. Other Thai strengths include prudent monetary, macroeconomic and debt management, sustained external strength despite erosion of the post-Asian financial crisis current-account surplus, a relatively strong growth outlook and an overall healthy banking system.

[Fullstop]

Do foreigners qualify for this scheme?

[Bkungbank]

Popularity policies sometimes losing money like elite card membership for 1 Million Baht support life time golf and other benefit are empty tax payers money fast,they do know how to calculate but it's not his money who care.

[ginjag]

How many people that has commented here has took part in this scheme? Everyone I know that has bought a car under this scheme has recieved their monies due to them and I know of two people that have recieved emails saying that they will be paid at the next payment date. Seems to me that there is people on here that spout crap about things that they know little or nothing about, typical bar stool gossiping

Sent from my GT-N8000 using Thaivisa Connect Thailand mobile app

You are unique, YOU said, "everyone I know that has bought a car under this scheme " Do you work as a salesman at a Japanese showroom ??? and they inform you when they receive their monies ??? and you know 2 people re e.mails ooooooooooooooohhhhhh please.

You seem to have been doing more gossiping to car buyers than the quote "bar stool" types.

Who the hell do you think most of us are??? boozing 7-11--into knickers 7-11 get real.

[ginjag]

first farmers, now car buyers, who is next to get screwed by Mr. T.. I guess now we know where all the money has gone..................

But, but Thailand's finances are in good shape, Mr. White Lie told the IMF only a couple of weeks ago and he's a respected government minister

Even Moody's, which rates financial health around the world, says that Thai economic fundamentals are strong enough to withstand political fallout. Its latest report notes that Thailand's credit strength is enough to cushion the damage. The government's debt structure is a key strength in this regard. This is thanks to the range of maturities of government bonds. Notably, Thailand is one of the few countries in the world to issue 50-year bonds. Other Thai strengths include prudent monetary, macroeconomic and debt management, sustained external strength despite erosion of the post-Asian financial crisis current-account surplus, a relatively strong growth outlook and an overall healthy banking system.

Song for you. Daydream Believer.

We have to agree with you, everything in the garden is rosyRED.

[SICHONSTEVE]

How many people that has commented here has took part in this scheme? Everyone I know that has bought a car under this scheme has recieved their monies due to them and I know of two people that have recieved emails saying that they will be paid at the next payment date. Seems to me that there is people on here that spout crap about things that they know little or nothing about, typical bar stool gossiping

Sent from my GT-N8000 using Thaivisa Connect Thailand mobile app

Are you implying that those who are in charge of the money don't know how the scheme is going or how much money there is left??

This is not good publicity for the government and I am sure that if untrue then they would have been all over this imploring that it is LIES, LIES, LIES and that it is a fascist 'propaganda' coup trying to unseat the government. They would insist that they would all receive their money next week, or the week after, or the week after that and if not, the following week (or 2, or 3) - you get the general idea!!

[BuddyPinkham]

Do foreigners qualify for this scheme?

Foreigners qualify for NOTHING in this country other than to pay for their visas and spend money here.

[NongKhaiKid]

first farmers, now car buyers, who is next to get screwed by Mr. T.. I guess now we know where all the money has gone..................

But, but Thailand's finances are in good shape, Mr. White Lie told the IMF only a couple of weeks ago and he's a respected government minister

Even Moody's, which rates financial health around the world, says that Thai economic fundamentals are strong enough to withstand political fallout. Its latest report notes that Thailand's credit strength is enough to cushion the damage. The government's debt structure is a key strength in this regard. This is thanks to the range of maturities of government bonds. Notably, Thailand is one of the few countries in the world to issue 50-year bonds. Other Thai strengths include prudent monetary, macroeconomic and debt management, sustained external strength despite erosion of the post-Asian financial crisis current-account surplus, a relatively strong growth outlook and an overall healthy banking system.

If, as you are saying, Thailand's finances are healthy why isn't the government discharging it's lawful debts, have they decided it's better they keep the money and perhaps put it to a better use OR is the information they publish for the world flawed in any way ?

Of course not flawed, no Thai would ever tell a porky, except to those they owe money, a lot of money, to.

[NongKhaiKid]

Do foreigners qualify for this scheme?

Foreigners qualify for NOTHING in this country other than to pay for their visas and spend money here.

Exactly, and we are extended the courtesy of being allowed to pay double for entry to national parks and the like.

[sangfroid]

Is this tax refund scheme still going? Would a Thai who bought a first new car in the last month qualify?

[Lupatria]

When? Next week?

[culicine]

How many people that has commented here has took part in this scheme? Everyone I know that has bought a car under this scheme has recieved their monies due to them and I know of two people that have recieved emails saying that they will be paid at the next payment date. Seems to me that there is people on here that spout crap about things that they know little or nothing about, typical bar stool gossiping

Sent from my GT-N8000 using Thaivisa Connect Thailand mobile app

We are still waiting, and it was due last month.

[culicine]

Is this tax refund scheme still going? Would a Thai who bought a first new car in the last month qualify?

No, the scheme finished about a year ago. A lot of people are still waiting for their refund.

[h90]

Just another to join the list of failed populist policies.

If the PTP come out with yet another list of populist policies for the next election campaign, they should dissolved on the spot!

They should be dissolved just now.

[Bluespunk]

How many people that has commented here has took part in this scheme? Everyone I know that has bought a car under this scheme has recieved their monies due to them and I know of two people that have recieved emails saying that they will be paid at the next payment date. Seems to me that there is people on here that spout crap about things that they know little or nothing about, typical bar stool gossiping

Sent from my GT-N8000 using Thaivisa Connect Thailand mobile app

The article says there will not be enough money to pay the refunds, a 20% shortfall. Seems clear that the policy was not thought through and now the consequences are becoming clear.

As for receiving monies at the next payment date, ask the rice farmers how those type of promises turned out.

Edited April 22, 2014 by Bluespunk

[ATF]

Is there another post or link giving all the details of this car scheme?