It's A Great Year For Thai Taxman

[webfact]

It's a great year for Thai taxman
By Digital Media



BANGKOK, Mar 15 – Thailand’s tax collections for the first five months of the 2013 fiscal year--beginning Oct 1 -- reached Bt830 billion, representing a Bt95 billion increase, or 13 per cent growth higher than targeted, the Fiscal Policy Office reported today.

Director Somchai Sujjapongse said the collected taxes from all agencies between October and February were higher than targeted, reflecting an economic expansion, especially regarding domestic demand and household income.

Revenue from excise taxes was 6.8 per cent higher than the target due to rising domestic consumption which boosted the country’s income from value added tax (VAT).

Collection of personal income tax was 10 per cent above the target while the Excise Tax Department’s revenue was 13.6 per cent higher due mainly to excise taxes from vehicles.

The policy of tax rebates for first-car buyers has greatly contributed to the rocketing excise tax revenue, he said.

In February alone, Thailand’s net revenue from tax was Bt159 billion which was Bt5.7 billion or 3.7 per cent higher than the original estimate. (MCOT online news)

-- TNA 2013-03-15

[slapout]

If the people doing the projected tax collection cannot get closer than 13+% to actual, someone needs to be looking for a new line of work. Wonder how close the same muppets came on the government projected expendure during the same period?

Does anyone ever ask questions of the people when they throw out 'look good numbers'

[rubl]

It's a great year for Thai taxman

It's a great year for multi billion budgets and handouts to all the needy and deserving
Best regards,
a taxpayer

[Pimay1]

It's a great year for Thai taxman

It's a great year for multi billion budgets and handouts to all the needy and deserving

Best regards,

a taxpayer

Exactly. Just like the 75 year old lady in our village that gets 500 Baht a month from the government. She has one son and has not heard from him in years. Some of the people living here chip in and make sure this old lady has food every day.

[Melyn]

Of course if you spend way more than you collect and squander hundreds of billions on the rice nonsense then your debts will increase.

Overall position = much higher debt.

[rattler]

If the people doing the projected tax collection cannot get closer than 13+% to actual, someone needs to be looking for a new line of work. Wonder how close the same muppets came on the government projected expendure during the same period?

Does anyone ever ask questions of the people when they throw out 'look good numbers'

Yes "can you make it look better"

[Puyai]

That's why I didn't get my tax rebate this year then!

[OzMick]

Can you think of something else that might cause VAT and Income Tax growth? Hint, it starts with INFLATION.

Excise Tax was up 13.6% due mainly from tax from vehicles - now subtract the subsidy. The result is votes gained and DILLIGAF about other people's money.

[noitom]

I read this in a story in the Thai press about 6 months ago but still don't understand how a tax rebate can "increase" tax revenue.

"The policy of tax rebates for first-car buyers has greatly contributed to the rocketing excise tax revenue," he said.

[Locationthailand]

Another massaged press release of note by the spins doctors to allow the Govt to sprout claims of successes. Take any of these statements with a grain of salt.

[tragickingdom]

A great year for the Thai taxman or simply the incompetence of being able to budget in a responsible way. If tax collections are of more than a percent of what is budgeted it simply means that the minister of finance is an incompetent idiot and we know he is given his lies about export growth. We know by now that not one figure of the Thai statistical bureau or from economists is reliable. When the former government had far lower tax income than budgeted it simply meant that their cronies were not paying tax and that tax probably went to Anupong and his friends to fund projects against democracy.

[OzMick]

A great year for the Thai taxman or simply the incompetence of being able to budget in a responsible way. If tax collections are of more than a percent of what is budgeted it simply means that the minister of finance is an incompetent idiot and we know he is given his lies about export growth. We know by now that not one figure of the Thai statistical bureau or from economists is reliable. When the former government had far lower tax income than budgeted it simply meant that their cronies were not paying tax and that tax probably went to Anupong and his friends to fund projects against democracy.

You can't think of any other reason tax receipts were down in 2010?

Edited March 16, 2013 by OzMick

[belg]

i guess that is because of the "all get rich quick scam" ... no, sorry, i don't see any farmer ever to pay one baht of tax

[GentlemanJim]

It's a great year for Thai taxman

It needs to be!

[waza]

"Revenue from excise taxes was 6.8 per cent higher than the target due to rising domestic consumption which boosted the country’s income from value added tax (VAT)."

Is this from the easy credit and credit cards the government issued

"Collection of personal income tax was 10 per cent above the target"

I would say this is due to the increase in the minimum wage to Bt300

So revenue increase and little but expenditure increase a massive amount. I guess that's something to crow about

[mortenaa]

"Revenue from excise taxes was 6.8 per cent higher than the target due to rising domestic consumption which boosted the country’s income from value added tax (VAT)."

Is this from the easy credit and credit cards the government issued

"Collection of personal income tax was 10 per cent above the target"

I would say this is due to the increase in the minimum wage to Bt300

So revenue increase and little but expenditure increase a massive amount. I guess that's something to crow about

You don't pay taxes earning 300 Baht per day, as the first 100,000 Baht is exempt (150,000 Baht 2013<).

[mortenaa]

Another massaged press release of note by the spins doctors to allow the Govt to sprout claims of successes. Take any of these statements with a grain of salt.

So you are saying that the numbers are incorrect?

[mortenaa]

A great year for the Thai taxman or simply the incompetence of being able to budget in a responsible way. If tax collections are of more than a percent of what is budgeted it simply means that the minister of finance is an incompetent idiot and we know he is given his lies about export growth. We know by now that not one figure of the Thai statistical bureau or from economists is reliable. When the former government had far lower tax income than budgeted it simply meant that their cronies were not paying tax and that tax probably went to Anupong and his friends to fund projects against democracy.

Incompetent idiots or lack of magic powers?