Economics
First car tax refund submissions reach 1.25 million
Thai government will have to refund to first car owners, at no more than Bt100,000/car, has so far reached Bt91 billion from about 1.25 million car owners

Tax refund submissions in the government’s ‘first car’ scheme has reached nearly Bt100 billion in value.
Thailand’s Excise Department Director-General Somchai Poonsawat said the taxes the Thai government will have to refund to first car owners, at no more than Bt100,000/car, has so far reached Bt91 billion from about 1.25 million car owners, as of 4:30pm on December 31, the last day for refund submissions, but which can be done until midnight if submitted online.

first car owners, at no more than Bt100,000/car, has so far reached Bt91 billion from about 1.25 million car owners
Bt91 billion from about 1.25 million car owners
He said about 10 per cent of tax submission have been done through the internet, while sedans top the type of vehicles for which refunds are being sought at some 737,000 units, followed by other four-door vehicles and pick-up trucks.
Mr Somchai said about 5,000 first car owners submitted documents for tax refunds yesterday.
The Bt91 billion to be rebated is threefold higher than previously forecast, he noted.
About 47,000 persons have already been granted the refunds at the value of Bt3.4 billion.
The director-general said the government is expected to use around Bt20 billion to pay back the refunds from the 2013 fiscal year, from the earlier expected amount of Bt7 billion and Bt18 billion respectively.
Up to Bt35 billion is forecast to be spent for the ‘first car’ scheme in the 2014 fiscal year, he said.
Those wishing to submit documents online for refunds can log on through https://firstcar.excise.go.th/ until midnight. (MCOT online news)
via ‘First car’ tax refund submissions reach nearly Bt100 bln in value | MCOT.net.
Economics
ADB Trims Southeast Asia’s growth forecast to 4.4%
Southeast Asia’s growth forecast is revised down slightly to 4.4% for 2019, as economic weakening in Singapore and Thailand prompts downward adjustments to their growth forecasts

The Asian Development Bank (ADB) has trimmed its forecasts for economic growth in developing Asia this year and next year as growth in the People’s Republic of China (PRC) and India is weighed down by both external and domestic factors.
(more…)Economics
Thai economy continued to be on a decelerating trend (Bank of Thailand)
The Thai economy continued to be on a decelerating trend in October, although private consumption indicators expanded and foreign tourist arrivals continued to expand.

According to Bot latest Press Release, the Thai economy continued to be on a decelerating trend in October. The value of merchandise exports continued to contract, mainly due to the economic slowdown of trading partners, consistent with deterioration in manufacturing production and private investment indicators.
(more…)Economics
Thai Cabinet approves new economic stimulus measures
The Thai government has rolled out new stimulus measures intended to boost full-year economic growth to 2.8%

The Thai Cabinet today approved three new stimulus packages to prop up the softening economy, said Finance Minister Uttama Savanayana.
(more…)- Lifestyle1 week ago
Bangkok drops to 20th spot on expat-friendly cities ranking
- Lifestyle5 days ago
Bangkok enters top 50 most expensive locations for expatriates
- Economics4 days ago
ADB Trims Southeast Asia’s growth forecast to 4.4%
- Tourism2 days ago
Thai bank forecasts 23 million Chinese tourists in Thailand by 2030