Revenue collection Bt6 bn above expectation
The government’s net revenue collection came 1.8 per cent or Bt6.08 billion higher than expected to Bt345.24 billion for the first two months of fiscal 2016.
"Net revenue collection was higher than targeted in the first two months of fiscal 2016 due mainly to revenue collection of other agencies and contributions from state enterprises," Krisda Chinavicharana, director-general of the Fiscal Policy Office, said yesterday.
This fiscal year’s two-month figure rose 3 per cent year on year. The fiscal year starts in October.
Other agencies’ revenue collection was 10.5 per cent or Bt2.97 billion higher than estimated to Bt31.26 billion following delivery of funds from a cancelled residential loan project for civil servants and excess liquidity from an international trade promotion fund.
State enterprises’ contribution was 9.2 per cent or Bt2.47 billion higher than estimated to Bt29.19 billion.
The top five state enterprises by contribution were the Provincial Electricity Authority, Bank for Agriculture and Agricultural Cooperatives, Government Savings Bank, Metropolitan Electricity Authority and Electricity Generating Authority of Thailand.
The Excise Department and Customs Department’s collections were Bt80.54 billion and Bt19.92 billion respectively, close to budget during the two-month period. However, the Revenue Department’s collection of Bt231.01 billion was 3.6 per cent or Bt8.59 billion lower than estimated after 9.5-per-cent lower-than-expected corporate income tax collection and 2.8-per-cent lower-than-expected collection of value-added taxes.
Last month alone, the government’s net revenue collection was 3.9 per cent or Bt6.71 billion higher than estimated and climbed 11 per cent year on year to Bt179.36 billion.
State enterprises’ contribution were 689 per cent or Bt8.03 billion higher than expected in the month and tax revenue on beer was also 22.2 per cent or Bt1.55 billion higher for acceleration of tax payment.
The Comptroller-General’s Department visited the Comptroller Office Area 6 early this week to follow up on procurement and disbursement under the government’s stimulus measures and to check if there were any obstacles.
Comptroller-General Manas Jamveha said most problems came from the tambon project.
"The number of officials in this project was insufficient. But there was a relaxation, allowing officials outside the unit to support this project for more flexibility in procurement."
The tambon project, which gives each tambon Bt5 million for improvement in the standard of living at the tambon level, is expected to see its disbursement completed next March.
Other projects, including Bt2.58 billion for small investment projects, urgent relief measures for farmers and the poor for sustainable strength worth Bt331.23 million, and relief projects with procurement of agricultural equipment for farmers are expected to be disbursed by the end of this year.
This area extends from Phitsanulok, Nakhon Sawan, Kampaeng Phet and Phichit to Uthai Thani, Tak, Sukhothai, Uttaradit and Phetchabun.
