Government revenue tanks 9.8 percent

BANGKOK: -- Taxes collected by the central government during the first nine months of the financial year were Bt110.931 billion (about $US3.255 billion) less than for the same period last year.

Fiscal Policy Office director Somchai Sajjapong, said the drop in revenue collected by the Revenue, Excise and Customs departments was across all government revenue sources, but particularly apparent in value-added tax, corporate tax, import duties and automobile tax.

Mr Somchai said revenue collected during the October 2008 to June 2009 period totaled Bt1.021 trillion (about $US29.960 billion), a drop of 9.8 percent over the nine months to June 2008.

He said the Finance Ministry now estimated that revenue for the 2009 fiscal year will be Bt280 billion (about $US8.215 billion) below the forecast amount of Bt1.604 trillion (about $US47 billion).

-- thaivisa.com 2009-07-17

No real surprise here,

the world economy is at least that much lower in general.

No real surprise here,

the world economy is at least that much lower in general.

Agreed. But also doesn't the rich and powerful change laws, implement others for one single purpose/intent: To squeeze the lemon (foreigner/foreign owned small company) dry? So many foreign investors - I am told, have "closed up shop" and moved to more friendly destinations. Take for example the way "they" are replenishing the Social fund. Can someone spell extortion? But alas TIT - land w/out sanctions.