Loan defaults by Thailand’s first-time car buyers are increasing and the government is tracking down the defaulters to recover the tax refunds they received. Excise Department Director-General Somchai Pulsawas says 511 first-time buyers have sold or had their vehicles repossessed so far this year, compared with 20 in all of 2013. The department is going after the TB100,000 ($3,137) tax refunds paid to the buyers on the condition they keep their vehicles for at least five years. Somchai ...
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