Briefs

Somchai Sajjapongse, director-general of the office, attributed the better-than-expected figure to the post-flood economic recovery, which boosted revenue from value-added tax (VAT) as well as corporate and individual income taxes. State enterprises’ income repatriation to the government was also higher than expected.

He expressed confidence that Thailand would see total revenue of Bt1.98 trillion for the full fiscal year, despite the extension in the diesel excise-tax waiver.

In April alone, revenue hit Bt139 billion, which was Bt5.6 billion higher than targeted. Individual income tax was Bt2.34 billion higher than targeted, while import tariffs were Bt1.8 billion more than expected due to vehicle and car-part imports. In the month, PTT repatriated dividends of Bt10.2 billion to the Finance Ministry, one month ahead of schedule.

Oil excise taxes in the month were Bt5.2 billion below target, due to the extension of the diesel excise-tax waiver of Bt5.30 per litre. – The Nation

KBank, Myanmar partner in transfer service

Kasikornbank and Myanmar’s Asia Green Development Bank have launched a Thai-Myanmar fund-transfer service, allowing 1.6 million workers in Thailand to repatriate funds for the first time.

This is part of KBank’s effort to support capital movement and labour relocation under the upcoming Asean Economic Community, said Somkiat Sirichatchai, KBank senior executive vice president.

He said KBank is applying for a representative office licence in Myanmar, which is expected to open by October. It will provide business consultancy services and transactions in Thai-Myanmar border areas, including international trade transactions, as well as business-matching services.

In the initial stage, the transfer service will be available through all of KBank’s channels, starting in 11 pilot provinces – Bangkok, Samut Prakan, Samut Sakhon, Nonthaburi, Pathum Thani, Chiang Mai, Chon Buri, Rayong, Surat Thani, Songkhla and Phuket. Maximum transfer is Bt90,000 per day. Recipients in Myanmar can receive money within one day. – The Nation

First-car scheme to be extended

The Finance Ministry plans to extend the first-car buyer tax incentive, which is due to expire at the end of this year.

Deputy Finance Minister Tanusak Lekuthai said only 10,000 buyers have filed tax claims so far, against the government’s target to boost vehicle sales by 500,000 units.

Under the scheme, taxpayers are entitled to up to Bt100,000 in tax rebates for first-car purchases.

Tanusak said the scheme may be extended by three or four months because of last year’s flood crisis, which crippled the automotive industry and dented vehicle demand for months. Another option would be to allow all types of buyers to take advantage of the scheme. – The Nation

Group expands training for planners

The Thai Financial Planners Association (TFPA) announced yesterday that it would produce more than 100 certified financial planners (CFPs), up from the 85 currently planned, to support financial sector clients with a combined 75 million financial accounts. There are now more than 140,000 CFPs worldwide.

" In order to efficiently serve a growing range of personal financial services such as life insurance, tax, heritage and retired planning, the number of our CFP staff keeps increasing," said newly appointed chief executive officer Teera Phutrakul.

He said the association would cooperate with all universities in Thailand to offer financial planning majors leading to bachelor’s degrees. The Stock Exchange of Thailand is one of the TFPA’s 39 members. – The Nation