Thai government revenue collections exceed target

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BANGKOK, Sept 9 – The government generated higher-than-expected revenue in August, bringing the total revenue collection in the first 11 months of Fiscal 2011 to Bt1.789 trillion, which exceeds the target by Bt200 billion, Fiscal Policy Office (FPO) Director-General Naris Chaiyasoot said on Friday.

Mr Naris said the government’s revenue collection in August totalled Bt301.187 billion, higher than targeted by Bt52.614 billion or 21.2 per cent, an increase by 18.7 per cent from the corresponding period last year.

The impressive revenue collection in August was attributed to higher corporate tax collections, which is Bt49.285 billion more than the anticipated target or 34.6 and auto excise tax collections at Bt2.108 billion or 37.3 per cent higher than projected, according to the FPO chief.

Mr Naris added that the total revenue collection in the first 11 months of Fiscal 2011 (Oct 2010-Aug 2011), up 11.1 per cent from the corresponding period last year.

All concerned government agencies were able to collect revenues higher than earlier projected as a result of steady economic growth.

The FPO chief said the Finance Ministry was confident that Fiscal 2011 would see  government revenue collections exceeding target of Bt1.65 trillion by Bt235 billion, which will further strengthen the country’s fiscal position.