Tax collection expected to be 50 billion baht lower than target

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BANGKOK, 13 September 2012 – The Finance Ministry expects that the government’s tax collection this year will be less than targeted after the government has launched many tax reduction schemes. 

Deputy Finance Minister Tanusak Lekuthai revealed that the annual tax collection has been lower than anticipated. He said the targeted collection of 1.98 trillion baht might not be reached; however it should not miss the target by more than 50 billion baht.

Mr Tanusak stated that the lower tax collection will not affect the government’s budget disbursement as several projects are not in urgent need of the money.

The government has earlier lowered corporate income tax from 30% to 23%, while the Board of Investment has imposed tax reduction measures in exchange for green energy investments.