State revenue collection still exceeds target

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BANGKOK, 15 July 2011  – Revenue collections in the first nine months of Fiscal 2011 (from October 2010 to June 2011) exceeded the initial target by about 180 billion baht, according to the Fiscal Policy Office (FPO). 

FPO Director Dr Naris Chaiyasoot reported that the state revenue collection in June exceeded the target by 2.06 billion baht or 1.9% as cooperate income tax, value added tax and personal income tax collections were higher than the target by 5.47, 3.47 and 1.54 billion baht respectively.

However, the oil excise tax collection was lower than the target by 7.56 billion baht as a consequence of the temporary reduction in the diesel excise tax rate.

As for revenue collections for the first nine months, a total of 1.386 trillion baht was collected, which exceeded the estimate by 181.05 billion baht or 15% thanks to the continuous economic expansion of the country. The figure also rose by 12.3% year-on-year.

Revenue collections from the Departments of Revenue, Excise, and Customs as well as state enterprises were all higher than their projected targets by 138.74, 21.63, 9.43 and 11.80 billion baht respectively.

As a result, the Ministry of Finance voiced its confidence that the state revenue collections this year would hover around 1.8 trillion baht contributing to the strong financial status of the country.