Tax system revamp on the way, says Uttama
The Finance Ministry plans to establish a committee to determine how to restructure the taxation system.
Minister Uttama Savanayana said on Monday (August 26) the planned revamp would sharpen Thailand’s global competitive edge and ensure fair assessment for all citizens and private firms.
Committee members will be representatives of the three tax-collection departments and the Fiscal Policy Office, with Prasong Poontaneat, the ministry’s permanent secretary, as chairman.
It will meet for the first time on Friday, Uttama said.
The tax system overhaul would include both reductions and hikes, he said, as well as an expansion of the collection base.
Revenue Department director-general Ekniti Nitithanprapas meanwhile said his agency would push the House of Representatives to vet an e-business bill this month with an eye to having the law take effect next year.
The department collected Bt1.59 trillion in taxes in the first 10 months of the fiscal year beginning last October 1. The figure exceeded the original estimate by Bt48.44 billion and was Bt3.1 billion more than collected in the same period last year.
“We expect to achieve Bt2 trillion in tax revenues by the end of this fiscal year,” he said.
