Thai govt reaps in 1.6 trillion baht from taxes in first 9 months

[webfact]

Government reaps in 1.6 trillion baht from taxes in first 9 months

BANGKOK, 13 July 2013 (NNT) – The government has earned over 1.6 billion baht from taxes in the first 9 months of fiscal 2013, while expressing confidence that taxes collected at the end of fiscal 2013 will be more than its anticipation.

During the “PM Yingluck Meets the People” program, Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong said he is expecting to see at least 2.1 trillion baht imposed from taxes by September 30th which is the end of 2013 fiscal year. In the first 9 months of this year, the government has reaped in up to 1.6 trillion baht which was higher than its anticipation, thanks to taxes and tariffs imposed by 3 agencies namely Revenue Department, Excise Department, and Customs Department.

The finance minister further revealed that the government earned, in the first 9 months, 24 billion baht from corporate income tax, lower than expected, but if compared to the same period of fiscal 2011, the corporate income tax would see a 10 percent increase, while the personal income tax collected by the government in the first 9 months also valued at 24 billion baht.

As for the quantitative easing or QE measures issued by the US, the minister said it would be good for overall businesses in the short run. But in the long run, he is urging the Thai importers and exporters to be more prepared and more cautious.


-- NNT 2013-07-13

[nachiket]

As for the quantitative easing or QE measures issued by the US, the minister said it would be good for overall businesses in the short run. But in the long run, he is urging the Thai importers and exporters to be more prepared and more cautious.

Quantitative Easing! Is it effective?

If it flooded with excess liquidity, it will leave large stocks of excess reserves.

Edited July 13, 2013 by nachiket

[PatOngo]

That's a LOT of swill for the trough.

[bushman1666]

Some serious tea money for the boys there!

[redroo]

Government reaps in 1.6 trillion baht from taxes in first 9 months

BANGKOK, 13 July 2013 (NNT) – The government has earned over 1.6 billion baht from taxes in the first 9 months of fiscal 2013,

There is a big difference between 1.6 trillion and 1.6 billion witch one is it ?

I guese it doesn't really matter the common people of thailand ,

will never ever get to enjoy any of it like the very few up the top in control of it will !

Even some kind of social security would help.

[Payboy]

first 9 months of fiscal 2013

It's October already and I didn't even notice.

[Tywais]

So, what's holding my 9000 Baht tax refund up?

[Andre0720]

Government reaps in 1.6 trillion baht from taxes in first 9 months

BANGKOK, 13 July 2013 (NNT) – The government has earned over 1.6 billion baht from taxes in the first 9 months of fiscal 2013,

There is a big difference between 1.6 trillion and 1.6 billion witch one is it ?

I guese it doesn't really matter the common people of thailand ,

will never ever get to enjoy any of it like the very few up the top in control of it will !

Even some kind of social security would help.

"There is a big difference between 1.6 trillion and 1.6 billion witch one is it ?"

Hummm, In Thailand....

Probably meant a range...

[Thailand]

So, what's holding my 9000 Baht tax refund up?

They are collecting, not refunding!

first 9 months of fiscal 2013

It's October already and I didn't even notice.

Fiscal year.

[BlackJack]

graduates from University now get 15K per month

this now puts them in the tax paying group

more to come

[geriatrickid]

first 9 months of fiscal 2013

It's October already and I didn't even notice.

The fiscal budget for Thailand is October 1,2012 to September 30, 2013

[geriatrickid]

If the government expects to collect 2.1 trillion, and the budget is 2.4 trillion, then that means the government will be close to to achieving a balanced budget. The deficit is right as targeted.

When the government announced its budget it stated;

The 2013 national budget represents an increase of 20 billion baht, or 19.5 percent, over that of the 2012 budget. The year 2013 will be another year for a deficit budget. The Government has set a deficit of 300 billion baht, while it is expected to collect revenues of 2.1 trillion baht.

I disagree with running deficits and I was of the view that spending should have been cut, but the fiscal performance of the government is superior to that of many western governments that are still running massive deficits and can't meet their budgets. Thailand's ability to meet budget projections and to demonstrate budgetary discipline combined with its strong reserves, does far more to address investor worries than resolving the intermittent street protests or even the southern insurgency.

Edited July 13, 2013 by geriatrickid

[hellodolly]

If the government expects to collect 2.1 trillion, and the budget is 2.4 trillion, then that means the government will be close to to achieving a balanced budget. The deficit is right as targeted.

When the government announced its budget it stated;

The 2013 national budget represents an increase of 20 billion baht, or 19.5 percent, over that of the 2012 budget. The year 2013 will be another year for a deficit budget. The Government has set a deficit of 300 billion baht, while it is expected to collect revenues of 2.1 trillion baht.

I disagree with running deficits and I was of the view that spending should have been cut, but the fiscal performance of the government is superior to that of many western governments that are still running massive deficits and can't meet their budgets. Thailand's ability to meet budget projections and to demonstrate budgetary discipline combined with its strong reserves, does far more to address investor worries than resolving the intermittent street protests or even the southern insurgency.

So what you are saying is that they are inept but not as bad as others. Aren't you over looking one teeny little fact. They were given a better deck of cards to play with than others.

[annabel]

Government reaps in 1.6 trillion baht from taxes in first 9 months

BANGKOK, 13 July 2013 (NNT) – The government has earned over 1.6 billion baht from taxes in the first 9 months of fiscal 2013,

There is a big difference between 1.6 trillion and 1.6 billion witch one is it ?

I guese it doesn't really matter the common people of thailand ,

will never ever get to enjoy any of it like the very few up the top in control of it will !

Even some kind of social security would help.

that was exactly what I was about to ask earlier today when I first saw this article but got busy with other things and well thanks ! ... Man ..?/ What is with these nespapers that they can't get even 30% of their reporting correctly posted ... and why is it nly 2 people so far have noticed this very small discrepancy>>>???

[spirit47]

Government reaps in 1.6 trillion baht from taxes in first 9 months

BANGKOK, 13 July 2013 (NNT) – The government has earned over 1.6 billion baht from taxes in the first 9 months of fiscal 2013,

There is a big difference between 1.6 trillion and 1.6 billion witch one is it ?

I guese it doesn't really matter the common people of thailand ,

will never ever get to enjoy any of it like the very few up the top in control of it will !

Even some kind of social security would help.

I'am concernd about this every time, a Trillion is in german and french 10 E18, the Tri means Millon E3. US used it for 10 E12, that is in german a Billion. For make it confused completly British use both, tradional 10 E18 but 10 E12 Us-style too. It must mean 10 E12 Tribillion

[NeverSure]

If the government expects to collect 2.1 trillion, and the budget is 2.4 trillion, then that means the government will be close to to achieving a balanced budget. The deficit is right as targeted.

When the government announced its budget it stated;

The 2013 national budget represents an increase of 20 billion baht, or 19.5 percent, over that of the 2012 budget. The year 2013 will be another year for a deficit budget. The Government has set a deficit of 300 billion baht, while it is expected to collect revenues of 2.1 trillion baht.

I disagree with running deficits and I was of the view that spending should have been cut, but the fiscal performance of the government is superior to that of many western governments that are still running massive deficits and can't meet their budgets. Thailand's ability to meet budget projections and to demonstrate budgetary discipline combined with its strong reserves, does far more to address investor worries than resolving the intermittent street protests or even the southern insurgency.

And the approximately 1 trillion baht loss in the rice scheme which is off-budget and not mentioned here?

[falang07]

 

graduates from University now get 15K per month

this now puts them in the tax paying group

more to come

 

no tax will be seen from 15K per month since with the personal allowance of 30,000 baht per taxpayer, 15,000 baht for each children, and 30,000 baht for each of taxpayers and spouses parents if such parent is above 60 years old and earns less than 30,000 baht, there is no tax to be paid in this salary group.

[ginjag]

3 Trillion IF the corruption monies nationwide was not ( obtained ) but put into government purse.

As mentioned the rice losses---money to repay that was borrowed---

If my bank account showed this money 1.6 tr.....but I then had direct debits taken out...and assets of rice stocked lossed....and a ( relative creamed off my account ( fraud/corruption ).....my account would NOT look happy would it. ????

[GentlemanJim]

If the government expects to collect 2.1 trillion, and the budget is 2.4 trillion, then that means the government will be close to to achieving a balanced budget. The deficit is right as targeted.

When the government announced its budget it stated;

The 2013 national budget represents an increase of 20 billion baht, or 19.5 percent, over that of the 2012 budget. The year 2013 will be another year for a deficit budget. The Government has set a deficit of 300 billion baht, while it is expected to collect revenues of 2.1 trillion baht.

I disagree with running deficits and I was of the view that spending should have been cut, but the fiscal performance of the government is superior to that of many western governments that are still running massive deficits and can't meet their budgets. Thailand's ability to meet budget projections and to demonstrate budgetary discipline combined with its strong reserves, does far more to address investor worries than resolving the intermittent street protests or even the southern insurgency.

GK

This information is all from "It's ok to tell white lies to keep the people happy" Kittiratt. You seem to have a short memory. I would not believe a word that came out of his mouth. Further more the article also states that

The finance minister further revealed that the government earned, in the first 9 months, 24 billion baht from corporate income tax, lower than expected, but if compared to the same period of fiscal 2011, the corporate income tax would see a 10 percent increase, while the personal income tax collected by the government in the first 9 months also valued at 24 billion baht.

Now that is a very small amount!! 48 billion from both corporate and personal income tax. That means that 2.05 Trillion has been collected from Revenue, excise and customs department. If that is the case then make Thailand a really good place to be and get rid of all taxes for business and individuals as they contribute only a fraction of a percent if we are to believe Kittiratt.

I am really glad for you that you seem to be able to see the silver lining in ever dark cloud the PTP pushes over Thailand, but sometimes a good sound reality check would do you better. Your faith in the PTP and the reds is almost the same as biblical faith...you believe it because someone has written it despite there being zero evidence to back up what is said. Thailand hub of transparent Governance Actually I guess they could be the most transparent Government in the world as 98% of TV members can see straight through them, we see them for the true bunch of thieves and crooks that they are.

[Time Traveller]

Government reaps in 1.6 trillion baht from taxes in first 9 months

BANGKOK, 13 July 2013 (NNT) – The government has earned over 1.6 billion baht from taxes in the first 9 months of fiscal 2013,

There is a big difference between 1.6 trillion and 1.6 billion witch one is it ?

haha, the difference is only 1.5984 trillion baht. Just a rounding error, but it should be 1.6 trillion

The journos here are pretty stupid and really struggle to understand numbers - especially past the 11 or 12 fingers they were born with. You can be sure the government bean counters would never confuse trillion with billion

Edited July 14, 2013 by Time Traveller

[slapout]

What about the tax on 1.3 million cars that is due to refunded back to the buyer. Was that outstanding 'balance due ' put in? New home owners, what about their rebate?

The only thing the bearer of these glad tiddings has brought to the covered dish table, during his tenure, is a empty plate, a perchance for telling porkies, and an atrocious hunger..

[Thai at Heart]

3mn income tax payers pay as much as all the companies. Strewth....

[OzMick]

Government reaps in 1.6 trillion baht from taxes in first 9 months

BANGKOK, 13 July 2013 (NNT) – The government has earned over 1.6 billion baht from taxes in the first 9 months of fiscal 2013,

There is a big difference between 1.6 trillion and 1.6 billion witch one is it ?

I guese it doesn't really matter the common people of thailand ,

will never ever get to enjoy any of it like the very few up the top in control of it will !

Even some kind of social security would help.

I'am concernd about this every time, a Trillion is in german and french 10 E18, the Tri means Millon E3. US used it for 10 E12, that is in german a Billion. For make it confused completly British use both, tradional 10 E18 but 10 E12 Us-style too. It must mean 10 E12 Tribillion

So when my 6 year-old say a thousand million billion trillion, that is an actual number to Europeans? Even though they developed the logical SI units which all step by 10³?

You're concerned, I'm confused.

[Tywais]

So when my 6 year-old say a thousand million billion trillion, that is an actual number to Europeans? Even though they developed the logical SI units which all step by 10³?

You're concerned, I'm confused.

Actually there is no word trillion in the Thai language. They use a million million.

[OzMick]

So when my 6 year-old say a thousand million billion trillion, that is an actual number to Europeans? Even though they developed the logical SI units which all step by 10³?

You're concerned, I'm confused.

Actually there is no word trillion in the Thai language. They use a million million.

Which makes it very hard to explain to my g/f how much money her government is "losing". I have roughly calculated that if our house had every room packed to the rafters with neatly stacked B1000 notes, it would hold about B37 billion.

[Pops]

Government reaps in 1.6 trillion baht from taxes in first 9 months

BANGKOK, 13 July 2013 (NNT) – The government has earned over 1.6 billion baht from taxes in the first 9 months of fiscal 2013,

There is a big difference between 1.6 trillion and 1.6 billion witch one is it ?

I guese it doesn't really matter the common people of thailand ,

will never ever get to enjoy any of it like the very few up the top in control of it will !

Even some kind of social security would help.

"There is a big difference between 1.6 trillion and 1.6 billion witch one is it ?"

Hummm, In Thailand....

Probably meant a range...

1,6 trillion before the government officials line their pockets which probably leaves 1,6 billion nett.