Government reaps in 1.6 trillion baht from taxes in first 9 months


BANGKOK, 13 July 2013 The government has earned over 1.6 billion baht from taxes in the first 9 months of fiscal 2013, while expressing confidence that taxes collected at the end of fiscal 2013 will be more than its anticipation. 

During the “PM Yingluck Meets the People” program, Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong said he is expecting to see at least 2.1 trillion baht imposed from taxes by September 30th which is the end of 2013 fiscal year. In the first 9 months of this year, the government has reaped in up to 1.6 trillion baht which was higher than its anticipation, thanks to taxes and tariffs imposed by 3 agencies namely Revenue Department, Excise Department, and Customs Department.

The finance minister further revealed that the government earned, in the first 9 months, 24 billion baht from corporate income tax, lower than expected, but if compared to the same period of fiscal 2011, the corporate income tax would see a 10 percent increase, while the personal income tax collected by the government in the first 9 months also valued at 24 billion baht.

As for the quantitative easing or QE measures issued by the US, the minister said it would be good for overall businesses in the short run. But in the long run, he is urging the Thai importers and exporters to be more prepared and more cautious.