Tax Revenue for H1 2023 Exceeded 60 Billion Baht

[snoop1130]

 

BANGKOK (NNT) - The Customs Department has revealed that it has collected more than 60 billion baht in tax revenue for the first half of the 2023 fiscal year from October 2022 to March 2023.

 

Customs Department Deputy Director-General Phantong Loykulnanta explained that tax revenue during the period was 274 million baht higher than the same period last fiscal year - an increase of 0.5%.

 

Customs revenue reached nearly 11.2 billion baht, surpassing the target by 21.6% due to special income from the Supreme Court’s ruling on a Toyota Prius case that resulted in Toyota paying a hefty fine of 7.6 billion baht.

 

Previously, the court ruled that Toyota imported all of the parts for reassembly of the Prius and was not eligible for customs tax reduction or exemption. This resulted in Toyota paying additional tax and a fine penalty.

 

Phantong also indicated that the main imported products subject to high customs duties include passenger cars, automotive components, pharmaceuticals, cosmetics and luxury brand bags. Demand for pharmaceuticals and beauty enhancement products like botox and fillers has soared, as people are now more focused on health and wellness.

 

In addition, the Customs Department has worked with the military, the Office of the Narcotics Control Board, and the Narcotics Suppression Bureau to tackle 98 narcotics-related cases.

 

Moreover, the Customs Department has seized 4600 metric tons of illegally imported frozen pork, valued at 240 million baht. Phantong said smuggled pork has been continuously imported through cargo ships and abandoned at border checkpoints and ports.

 

The majority of the smuggled pork comes from Brazil and other countries, with the popularity of hot pot and “shabu” meals leading to a high demand for pork - resulting in a surge of illegal imports to evade taxes.

 

Source: https://thainews.prd.go.th/en/news/detail/TCATG230426171214454

 

-- © Copyright NNT 2023-04-26

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

The most versatile and flexible rental investment and holiday home solution in Thailand - click for more information.