Thailand tax revenue jumps in May

[Admin]

Thailand tax revenue jumps in May 
: 12 Jun 2010
Collected revenue in May is THB 2.7 billion higher than the target

(NNT) – The revenue collected by the government in May was higher than the projected amount by 2.7 billion THB, resulting in a total income of 8 months of 2010 fiscal year at over 1.123 trillion THB, according to the Fiscal Policy Office (FPO).

The FPO Director Satit Rangkasiri revealed that the government’s net income in May 2010 totaled 276 billion THB, higher than the targeted amount by 2.7 billion THB.

Factors contributing to the surplus amounts include the continuously expansion of exports and consumption, leading to higher VAT collection by 7.17 billion THB; and it was the period of corporate income tax filing which caused the national income to rise by 126.91 billion THB, 7.9 billion THB over the target.

However, with the impact of crude oil price decrease together with the strength of baht currency, the petroleum income tax collected was anticipated to be about 22 billion THB less than the target.

The government’s income in the first eight months of the 2010 fiscal year totaled 1.123 trillion THB, 11.9 billion THB or 23.2% higher than the target. Mr Satit Rangkasiri admitted that revenue collection in May also got an impact from the political protest as the income from consumption and import sector slowed down. The Finance Ministry remains confident to achieve the expected 1.522 trillion THB in the remaining period of the fiscal year, excluding the 49 - billion THB assets seized from the ex-PM Thaksin Shinawatra.