Four-month revenue collection exceeds government estimates
The government’s revenue collection in the first four months of fiscal year 2022 is up 6.1 per cent year on year, the Fiscal Policy Office (FPO) of the Finance Ministry revealed on Monday.
FPO director-general Pornchai Thiraveja revealed collections of 758.388 billion baht, 42.676 billion baht or 6 per cent higher than their estimates for the first four months of fiscal year 2022 (October 2021 - January 2022). The Revenue Department’s collections and remittances of state enterprises exceeded estimates by 70.648 and 6.737 billion baht, or 14.3 per cent and 14.7 per cent, respectively.
The increase in total revenue comes from higher value added tax, corporate income tax, and personal income tax collections, and increase in imports, Dubai crude oil prices, as well as income of juristic persons that have begun to increase due to economic recovery.
Revenue remittances of state enterprises were also higher than the forecast, especially the revenue remittance of PTT Pcl, which was significantly higher than the estimate.