Thai govt revenue exceeds targets

[webfact]

Govt revenue exceeds targets



BANGKOK, 27 May 2016 (NNT) – The Ministry of Finance has revealed government revenue over the past 7 months has exceeded targets due to the 4G auction.

Director-General of the Fiscal Policy Office (FPO) Krisada Jeenavijarana has reported the state took in 1.247 trillion baht over the past 7 months of fiscal 2016, surpassing its target by 75 billion baht or 6 percent. The figure is also 8.7 percent higher compared to the same period last year.

Auctions for 900 Mhz and 1800 Mhz frequency bands, which netted the government 48.2 billion baht, have put the state enterprise segment 24.7 percent ahead of its revenue total during this period last year. Income tax, excise tax for alcohol and auto tax collection also all exceeded targets.

For the remainder of the fiscal year, the Ministry of Finance believes revenue collection will benefit from the improving economy and allow it to hit its target for the entire year.

During the first 7 months of this year, the government handed 1.220 trillion baht to the Ministry of Finance while spending 1.790 trillion baht, or 8.5 percent more than the same period last year. Most the state’s expenses were for stimulus investment.

-- NNT 2016-05-27

[phoenixdoglover]

It is unwise to include something like a one shot auction in the comparison of actual revenue to target. That would be misleading.

Oh....never mind.

[chainarong]

Thailand must be the only country experiencing improving economy , everyone else is in with deflation , no growth and a high unemployment , and most people will be hanging onto that car for another decade, however I take comfort in the knowledge that the finance department also said last month that the country was in the red.............................................. .

[Pib]

During the first 7 months of this year, the government handed 1.220 trillion baht to the Ministry of Finance while spending 1.790 trillion baht, or 8.5 percent more than the same period last year. Most the state’s expenses were for stimulus investment.

a.k.a., spending more than you take in.

[phoenixdoglover]

During the first 7 months of this year, the government handed 1.220 trillion baht to the Ministry of Finance while spending 1.790 trillion baht, or 8.5 percent more than the same period last year. Most the state’s expenses were for stimulus investment.

a.k.a., spending more than you take in.

Yes, 570 billion in 6 months. They are giving Yingluck some competition for profligate spending.

[thesetat2013]

It is unwise to include something like a one shot auction in the comparison of actual revenue to target. That would be misleading.

Oh....never mind.

It will be used as a good excuse when next year their figures are in the red. Unless they plan ahead for another big sale of something or other.

[Jimbo2014]

These airwave auctions are an easy source of revenue for any government. Unfortunately its not about real economic growth - just once every 20 - 30 year bursts of revenue. Would be nice if the MoF made this clear rather than lauding this as a fantastic achievement.

Fun fact - they often use game theory developed by John Nash to encourage the highest bidding.

[wabothai]

The man's face tells stories.

[halloween]

During the first 7 months of this year, the government handed 1.220 trillion baht to the Ministry of Finance while spending 1.790 trillion baht, or 8.5 percent more than the same period last year. Most the state’s expenses were for stimulus investment.

a.k.a., spending more than you take in.

"Most the state’s expenses were for stimulus investment."

Generally considered a good idea when times are tough. And considerably better than the overspending of some other countries, like yours for example.

[Winniedapu]

How dishonest can these people be?

Check the headline: Govt revenue exceeds targets

Now check the first line of the article: The Ministry of Finance has revealed government revenue over the past 7 months has exceeded targets due to the 4G auction.

Unbelievable, just unbelievable.

In fact, Govt revenues are in a very deep hole as was revealed earlier this month.

W

Edited May 27, 2016 by Winniedapu

[Srikcir]

It is unwise to include something like a one shot auction in the comparison of actual revenue to target. That would be misleading.

Oh....never mind.

Also unwise to count the proceeds from the auction before they have been collected.

"AIS ... will have 90 days to make its first payment installation of 8 billion baht and secure a bank guarantee for the entire payment."

[stickyrice2000]

Can't blame him. The junta government wants good news only. The negative news are banned.

[halloween]

It is unwise to include something like a one shot auction in the comparison of actual revenue to target. That would be misleading.

Oh....never mind.

Also unwise to count the proceeds from the auction before they have been collected.

"AIS ... will have 90 days to make its first payment installation of 8 billion baht and secure a bank guarantee for the entire payment."

Haven't you heard, AIS changed hands some years ago?

[Brer Fox]

It is unwise to include something like a one shot auction in the comparison of actual revenue to target. That would be misleading.

Oh....never mind.

It will be used as a good excuse when next year their figures are in the red. Unless they plan ahead for another big sale of something or other.

Like the rice they thought they had sold but when the buyers came to take delivery it either wasn't there or rotten or not what the specification said it was.

[NongKhaiKid]

No reason now not to buy submarines ?

[jabis]

No reason now not to buy submarines ?

Nor to buy more fighter jets to that extent

[Winniedapu]

It is unwise to include something like a one shot auction in the comparison of actual revenue to target. That would be misleading.

Oh....never mind.

Also unwise to count the proceeds from the auction before they have been collected.

"AIS ... will have 90 days to make its first payment installation of 8 billion baht and secure a bank guarantee for the entire payment."

Haven't you heard, AIS changed hands some years ago?

And they're still a ratbag organisation.

Mind you, so is True. DTAC not so much but they've got foreign investors, and they're more honest than the other 2, so they'll not get anywhere in Thailand.

A good starting assumption when evaluating any Thai or any Thai organisation is that they are built on a huge pile of corrupt and dishonest crap, and work from there. That way, no disappointments and some pleasant surprises may rvrn come to pass.

Always suspect any organisation that will only allow ever customers to speak to 18-year-old support staff and definitely no-one with a functioning brain.

W

Edited May 28, 2016 by Winniedapu

[halloween]

It is unwise to include something like a one shot auction in the comparison of actual revenue to target. That would be misleading.

Oh....never mind.

Also unwise to count the proceeds from the auction before they have been collected.

"AIS ... will have 90 days to make its first payment installation of 8 billion baht and secure a bank guarantee for the entire payment."

Haven't you heard, AIS changed hands some years ago?

And they're still a ratbag organisation.

Mind you, so is True. DTAC not so much but they've got foreign investors, and they're more honest than the other 2, so they'll not get anywhere in Thailand.

A good starting assumption when evaluating any Thai or any Thai organisation is that they are built on a huge pile of corrupt and dishonest crap, and work from there. That way, no disappointments and some pleasant surprises may rvrn come to pass.

Always suspect any organisation that will only allow ever customers to speak to 18-year-old support staff and definitely no-one with a functioning brain.

W

That 18yo will probably have more knowledge of smart phones than either of us could ever accumulate.

[Winniedapu]

It is unwise to include something like a one shot auction in the comparison of actual revenue to target. That would be misleading.

Oh....never mind.

It will be used as a good excuse when next year their figures are in the red. Unless they plan ahead for another big sale of something or other.

Like the rice they thought they had sold but when the buyers came to take delivery it either wasn't there or rotten or not what the specification said it was.

Someone else's fault though, it always is.

W

[Winniedapu]

Also unwise to count the proceeds from the auction before they have been collected.

"AIS ... will have 90 days to make its first payment installation of 8 billion baht and secure a bank guarantee for the entire payment."

Haven't you heard, AIS changed hands some years ago?

And they're still a ratbag organisation.

Mind you, so is True. DTAC not so much but they've got foreign investors, and they're more honest than the other 2, so they'll not get anywhere in Thailand.

A good starting assumption when evaluating any Thai or any Thai organisation is that they are built on a huge pile of corrupt and dishonest crap, and work from there. That way, no disappointments and some pleasant surprises may rvrn come to pass.

Always suspect any organisation that will only allow ever customers to speak to 18-year-old support staff and definitely no-one with a functioning brain.

W

That 18yo will probably have more knowledge of smart phones than either of us could ever accumulate.

Not those 18-year-olds.

And here was me thinking it might get better after changes at the top.

Closure due to unprofitability later this year.

W

Edited May 28, 2016 by Winniedapu

[rubl]

How dishonest can these people be?

Check the headline: Govt revenue exceeds targets

Now check the first line of the article: The Ministry of Finance has revealed government revenue over the past 7 months has exceeded targets due to the 4G auction.

Unbelievable, just unbelievable.

In fact, Govt revenues are in a very deep hole as was revealed earlier this month.

W

Absolutely!

"1.247 trillion baht over the past 7 months of fiscal 2016, surpassing its target by 75 billion baht or 6 percent."

Even if we deduct the 48.2 billion Baht from the 4G action, they're still 26.8 billion Baht above target.

BTW on 2016-02-25 we had

"Government revenues for the first four months of 2016 fiscal year starting last October amounted to 742 billion baht, representing 7.9 percent above target or 54.3 billion baht increase"

http://www.thaivisa.com/forum/topic/897750-4-month-thai-govt-revenues-exceed-target-by-79/

[Winniedapu]

How dishonest can these people be?

Check the headline: Govt revenue exceeds targets

Now check the first line of the article: The Ministry of Finance has revealed government revenue over the past 7 months has exceeded targets due to the 4G auction.

Unbelievable, just unbelievable.

In fact, Govt revenues are in a very deep hole as was revealed earlier this month.

W

Absolutely!

"1.247 trillion baht over the past 7 months of fiscal 2016, surpassing its target by 75 billion baht or 6 percent."

Even if we deduct the 48.2 billion Baht from the 4G action, they're still 26.8 billion Baht above target.

BTW on 2016-02-25 we had

"Government revenues for the first four months of 2016 fiscal year starting last October amounted to 742 billion baht, representing 7.9 percent above target or 54.3 billion baht increase"

http://www.thaivisa.com/forum/topic/897750-4-month-thai-govt-revenues-exceed-target-by-79/

Kinda makes you wonder why the government announced it was short of money then I suppose. There was a thread about it in here, I'll try to find it.

I'm sure they wouldn't tell lies of anything like that of course.

W