Thailand’s state revenue 10% higher than targeted

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The Thai government realized net revenue of Bt127.581 billion last month, 9 percent higher than its earlier estimate of Bt10.585 billion, a Finance Ministry spokesman reported today.

Somchai Sajjapong said the revenue came mainly from personal income and auto sales taxes.

Collections of personal income tax was Bt3.728 billion, 13.9 percent higher, due to expanded household income, and Bt3.434 billion, 33.2 percent higher, from auto sales tax mainly from the government’s first-car purchase scheme, he said.

He added that contributions from state enterprises were Bt9.518 billion, 77.1 percent, higher than earlier forecast.

In the first seven months of the 2013 fiscal year (Oct 2012-April 2013), the government’s net revenue was Bt1.1 trillion which was Bt104.426 billion, some 10.4 percent higher than the target, and 16.2 percent higher than the corresponding period in the previous fiscal year.

However, the Revenue Department’s tax refunds were Bt18.542 billion higher than earlier estimated.

The Revenue Department collected Bt821 billion tax in the first seven months of the current fiscal year, Bt42.164 billion or 5.4 percent higher than the target while the Excise Department collected Bt268.5 billion tax, higher than the target by Bt24.462 billion or 10 percent.

The Customs Department’s tax collection in the first seven months was Bt67.6 billion, higher than the target by Bt455 billion or 0.7 percent.

The contribution from state enterprises was Bt72.6 billion which was Bt15.2 billion or 26.7 percent above the target while other state agencies collected combined revenue of Bt100.5 billion, which was Bt41.854 billion or 71.4 percent above the target.

The Revenue Department’s tax refund totaled at Bt174.9 billion, which was Bt18.542 billion or 11.9 percent higher than originally projected.