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Tax revenues up 5% with month left in fiscal year

Sep 12. 2019
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By The Nation

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The Revenue Department collected Bt1.7 trillion in taxes in the 11 months of fiscal 2019 to date, far exceeding its target of Bt36 billion.

Director-general Ekniti Nitithanprapas said on Thursday (September 12) the Bt1.7 trillion represented a 5.1-per-cent increase over the Bt85.54 billion collected in the same period last year.

Corporate income tax came in at Bt554.12 billion (Bt4.5 billion beyond expected, for a 4.2-per-cent increase compared to the same period of fiscal 2018).

Petroleum taxes netted Bt99.55 billion (Bt52.9 billion beyond expected, a 56.6-per-cent hike),

Specific business tax revenues topped Bt56.5 billion (Bt1.12 billion beyond targeted, up 2.4 per cent).

Stamp taxes brought in Bt14.68 billion (Bt352 million beyond expected, up 5.5 per cent).

VAT garnered Bt736.41 billion (Bt22.188 billion below expected). This was down 1.2 per cent, the drop blamed on the US-China trade war affecting VAT collection on imports.

Ekniti said the department was confident of collecting Bt2 trillion as planned for the full fiscal year.

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