Revenue collection for Oct-Jan period is 1.1 billion baht above target

[webfact]

Revenue collection for Oct-Jan period is 1.1 billion baht above target



BANGKOK: -- The government’s revenue collection for the first four months of 2015 fiscal year has surpassed the target by 1,124 million baht to 665 billion baht representing an increase of 0.9 percent compared to the revenue of the same period a year ago, according to Mr Krisda Jinavijarana, director of Fiscal Economics Office.

He, however, said that tax collection by the Revenue, Excise and Customs departments fell below target by 15.9 billion baht or 2.4 percent drop whereas revenue collection from state enterprises, other government units and fuel taxes surpassed targets by 12 billion baht, 8.3 billion baht and 7.8 billion baht respectively.

Revenues from personal income tax, car excise tax and VAT have all fallen short of targets by 14 billion baht, 5.9 billion baht and 5.4 billion baht respectively.

Source: http://englishnews.thaipbs.or.th/revenue-collection-oct-jan-period-1-1-billion-baht-target

-- Thai PBS 2015-02-19

[djjamie]

Good news.

I wonder what the revenue would have been had the Junta not stepped in to stop the UDD holding the majority at the barrel of a gun grenade launcher.

[Prbkk]

Good news.

I wonder what the revenue would have been had the Junta not stepped in to stop the UDD holding the majority at the barrel of a gun grenade launcher.

How can it be characterized as good news when the increase in revenue comes from govt enterprises but targets fall short in most of the areas that would reflect a growing economy?

[ExpatOilWorker]

Ups, so in reality TAX collection from the real economy is 41.2 billion Baht or 6.2% below target.

[clockman]

We never heard anymore about the luxury car scam? The customs and excise department. Is another area that could do with close scrutiny!

[casualbiker]

Good news.

I wonder what the revenue would have been had the Junta not stepped in to stop the UDD holding the majority at the barrel of a gun grenade launcher.

How can it be characterized as good news when the increase in revenue comes from govt enterprises but targets fall short in most of the areas that would reflect a growing economy?

Interesting PDF about Thai fiscal policy 2008 - 2013 from IMF.

https://www.google.co.th/url?sa=t&source=web&rct=j&ei=gcvlVMHnKIqyuATip4D4Dg&url=https://www.imf.org/external/region/tlm/rr/pdf/aug10.pdf&ved=0CC4QFjAJ&usg=AFQjCNHvDu98Wmdvaxxi7fIgmixWdSNL-g&sig2=Pzjn8602QM2MQc4nmDnEag

Edited February 19, 2015 by casualbiker

[LuckyLew]

Read the headline and I thought it was about police collections for traffic stops

[ExpatOilWorker]

Good news.

I wonder what the revenue would have been had the Junta not stepped in to stop the UDD holding the majority at the barrel of a gun grenade launcher.

How can it be characterized as good news when the increase in revenue comes from govt enterprises but targets fall short in most of the areas that would reflect a growing economy?

Interesting PDF about Thai fiscal policy 2008 - 2013 from IMF.

https://www.google.co.th/url?sa=t&source=web&rct=j&ei=gcvlVMHnKIqyuATip4D4Dg&url=https://www.imf.org/external/region/tlm/rr/pdf/aug10.pdf&ved=0CC4QFjAJ&usg=AFQjCNHvDu98Wmdvaxxi7fIgmixWdSNL-g&sig2=Pzjn8602QM2MQc4nmDnEag

VAT is 40% of revenue, so any change in consumer spending has big impact on tax collection.

[ExpatOilWorker]

Good chart

[chainarong]

Another well worded piece of literature of the feel good variety, not to be trusted or believed, what was the input from the private sector again.

[shirtless]

You only get positive figures here, why cant they tell it as it is.

[FangFerang]

Great! Now they have the money to improve rural schools and buy class materials and -- maybe -- chalk...

Oops, forgot where I was for a moment.

My apologies.

[casualbiker]

Great! Now they have the money to improve rural schools and buy class materials and -- maybe -- chalk...

Oops, forgot where I was for a moment.

My apologies.

Why would they buy chalk. Not much use on a whiteboard!!

Don't forget it was the Shinawatra governments that squandered huge amounts of money on useless Chinese tablets for P1 (6 year's old) students. When that money COULD have outfitted every school in Thailand with at least 4 smart board equipped classrooms!!

[Srikcir]

"The government’s revenue collection for the first four months of 2015 fiscal year has surpassed the target by 1,124 million baht to 665 billion baht representing an increase of 0.9 percent compared to the revenue of the same period a year ago,"

A street vendor could have collected more tax than the government for the period Oct. 2013-Jan. 2014!

The Democrats and PDRC virtually shutdown most of the critical government functions and were actively trying to get government civil service to work slowdowns and join the street marches. They frequently invaded government facilities to disrupt work. The military coup in May 2014 further interferred with all critical government functions until Prayuth made himself the PM and formed a new government in Sept. 2014.

But there is some "good" news. With the now almost stagant GDP growth the percentage of tax collection to GDP will reach new highs. Unfortunately, the Thai middle class will bear most of the burden and few of the rewards.

[TheDiva]

Great! Now they have the money to improve rural schools and buy class materials and -- maybe -- chalk...

Oops, forgot where I was for a moment.

My apologies.

I hear the defence budget is being increased though, a 5% increase on the previous years. The Big I Am explained it thus;

"If we don't increase the budget and purchase new weapons, then nobody will fear us," the junta leader told reporters.

Simple and blunt - the message, not the messenger, though come to think of it......................

[Thai at Heart]

Good news.

I wonder what the revenue would have been had the Junta not stepped in to stop the UDD holding the majority at the barrel of a gun grenade launcher.

How can it be characterized as good news when the increase in revenue comes from govt enterprises but targets fall short in most of the areas that would reflect a growing economy?

When King Mongkut institution can afford to have a billion or so nicked, I think its fairly obvious that the govt enterprises are sitting on far too much cash which probably should be repatriated back to the govt.