A taxing problem for Thailand's car industry

Rebate scheme to stimulate economy boosted vehicle sales but also saturated market and encouraged bad debt.

    Thailand is big on cars, and has a huge car industry. But when businesses took heavy losses after disastrous floods two years ago, a scheme was created to stimulate the market: first-time buyers got a tax rebate worth as much as $3,200 when they bought a new vehicle.

    Now there is a problem: about 10 percent of the people on the scheme are defaulting on loans and selling their cars.

    Al Jazeera's Veronica Pedrosa reports from Bangkok.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    Visualising every Saudi coalition air raid on Yemen

    Visualising every Saudi coalition air raid on Yemen

    Since March 2015, Saudi Arabia and a coalition of Arab states have launched more than 19,278 air raids across Yemen.

    Lost childhoods: Nigeria's fear of 'witchcraft' ruins young lives

    Lost childhoods: Nigeria's fear of 'witchcraft' ruins young lives

    Many Pentecostal churches in the Niger Delta offer to deliver people from witchcraft and possession - albeit for a fee.

    Why did Bush go to war in Iraq?

    Why did Bush go to war in Iraq?

    No, it wasn't because of WMDs, democracy or Iraqi oil. The real reason is much more sinister than that.