The tax reduction scheme for first-time car buyers is set to be launched on 1 October while vehicles eligible for the tax cut must be worth no more than 1 million THB with an engine no larger than 1,500 cc.
Speaking of the Government’s economic policy to reduce automobile tax for people purchasing a car for the first time, Director-General of the Excise Department Pongpanu Svetarundra announced that the policy would be implemented on 1 October and would continue until 30 December next year.
In order for the purchaser to be eligible for the tax privilege, the value of the vehicle must not exceed 1 million THB and the size of the engine must be 1,500 cc or less. The tax cut will be applicable to all types of cars, except for pick-up trucks.
The Excise Department is coordinating with the Department of Land Transport to examine car buyers’ eligibility and to make sure that they have never purchased a car before. Transfers of ownership will be prohibited for five years after the purchase. Preventive measures against identity theft and illegal ownership transfers are also being formulated.