Tax revenue falls short due to political crisis: Thai official

[webfact]

Tax Revenue Falls Short Due To Political Crisis: Official
By Khaosod English


Anti-government protesters celebrating Songkran in their rally site on Chaeng Wattana Road, 12 April 2014

BANGKOK: -- Tax collection throughout the first 6 months of 2014 fiscal has missed the target by six per cent thanks to the ongoing political crisis, officials said.

According to a statement released by the Ministry of Finance, overall tax revenues between the period of October 2013 to March 2014 only turned up 964 billion baht - approximately 60 billion baht lower than the projected goal.

The statement claims that the lower revenues were caused by the current economic slowdown, while the prolonged political confrontation has also resulted in lower consumption and imports, which in turn lessens the amount of tax the state could have collected.

Despite the revelation, Mr. Rangsan Siworasart, Permanent Secretary to the Ministry of Finance, said he believes the overall tax collection at the end of 2014 fiscal year will not be lower than the projected goal, as the new government has the chance to improve the political and economic situation.

"If the new government can be formed within 3rd quarter of this year, it will regain much of the confidence," Mr. Rangsan said.

Source: http://en.khaosod.co.th/detail.php?newsid=1397650752&typecate=06&section=


-- Khaosod English 2014-04-17

[NongKhaiKid]

Of course nothing to do with the reputation Revenue Dept has which sees it vie every year with Customs for the unwanted title of the most corrupt govt department.

[bino]

The statement claims that the lower revenues were caused by the current economic slowdown, while the prolonged political confrontation has also resulted in lower consumption and imports, which in turn lessens the amount of tax the state could have collected.

If Yingluck and the current administration had ensured that the farmers would be paid before they went on a massive ego trip and dissolved the government, it would have increased spending, which in turn would increase the amount of tax the state could have collected.

as the new government has the chance to improve the political and economic situation.

What new government???

Edited April 17, 2014 by bino

[noitom]

Thais must tax land and property. Charge high fees for parking in Bangkok.

[soalbundy]

Thais must tax land and property. Charge high fees for parking in Bangkok.

because you don't have land and property and don't park in Bangkok.

[WoopyDoo]

There are over 1 million farmers currently not spending anything.

Tourists are staying away but not due to the protests, in fact due to the grenades and bullets flying around BKK by the red shirts.

First time car buyers not getting their tax relief as promised has also curbed spending by those people.

Imports are down because of the above factors that have impacted the baht and made imports more expensive.

If the government did the decent thing and stepped aside and allowed a proper government to take over, recovery would follow fast.

[chotthee]

I love the photo.

So Hi-so.

[hawker9000]

Uh-oh. The trough needs refilling! No wonder reports are beginning to trickle in about foreigners being stopped on the street for............"donations"...

[belg]

tax on unused land, that would be more fair

tax on your house, like in western countries = robbery

you paid tax on your salary (50%), you paid tax on your savings, your children pay tax when you die to get what belongs to them ...

[tingtongteesood]

Thais must tax land and property. Charge high fees for parking in Bangkok.

They should start by doing this to every member of your family inside and outside of Bangkok wherever they are....Bet they and by proxy you would complain your ass off then !

[GAZZPA]

this was bound to come. Last week it was mentioned by some official that the government was not going to have a problem with money, which of course means they are.

Expect to see some sort of announcement very soon saying the government is short of money.

[Thai at Heart]

There are over 1 million farmers currently not spending anything.

Tourists are staying away but not due to the protests, in fact due to the grenades and bullets flying around BKK by the red shirts.

First time car buyers not getting their tax relief as promised has also curbed spending by those people.

Imports are down because of the above factors that have impacted the baht and made imports more expensive.

If the government did the decent thing and stepped aside and allowed a proper government to take over, recovery would follow fast.

Well the farmers are about to get their last deal and then its back to old prices, the committee will probably dismantle every policy this bunch had.

Recovery ain't coming fast without some "populist" stimulus. Give the rich an extra 300 baht per day and they save it, give it to the poor and 299 hits the streets in half a day.

Made imports more expensive? The baht has strengthened massively and gone back a bit now. Wasn't everyone crying for a cheaper baht a year ago?