Thai Tax Collectors Surpass May Target

[george]

Thai tax collectors surpass May target

BANGKOK -- State revenue collection hit an eight-month high in May, exceeding the budget plan and almost assuring revenue raised for the entire year would easily meet its projected target, according to a senior government official.

Finance Permanent Secretary Suparut Kawatkul said today that in May, the government managed to collect 210.44 billion baht from various forms of taxation. The figure is 12.9 million baht over budget and 37.35 million baht higher than that raised in May 2004.

Mr. Suparut attributed the amount collected to the strength of economic activity over the last eight months. This was despite the impact on the economy of the severe drought; the December tsunami; and sky-rocketing fuel prices.

He said personal income tax collection had increased by 16.5 per cent over the same period last year, while there was a 20 per cent increase in the amount of value added tax raised. The Finance Ministry was forecasting that the overall revenue collection target of 1.25 trillion baht for 2005 would be met.

Amid the overall rise, Mr. Suparut said excise duties from vehicles did not meet the targeted amount because of a restructuring of rates for this particular sector.

--TNA 2005-06-08