Finance Ministry misses revenue target in first 8 months of fiscal 2017

[webfact]

Finance Ministry misses revenue target in first 8 months of fiscal 2017

 

 

BANGKOK, 12 June 2017 (NNT) – The Ministry of Finance says it missed the revenue target in the first 8 months of fiscal 2017. 

Finance Minister Apisak Tantivorawong has reported that excise taxes and customs duties collected in the first 8 months of this fiscal year are lower than the ministry’s target, but didn’t mention by how much the target was missed. 

The minister attributed the lower-than-expected revenue to declining oil prices on the world market, saying that global oil prices have dropped to 40-50 US dollars per barrel which is lower than the price anticipated by at least 40 dollars. 

Apisak went on to say that the ministry is now concluding assistance measures for the poor and the underprivileged whose annual incomes are lower than 30,000 baht. 

More than 14 million people have applied for state welfare while the ministry is now reviewing their claims, a process which will take approximately one month. 

Applicants who qualify will be entitled to different types of assistance including a career training program.

 

-- nnt 2017-06-12

 

[lovelomsak]

1 hour ago, webfact said:

Apisak went on to say that the ministry is now concluding assistance measures for the poor and the underprivileged whose annual incomes are lower than 30,000 baht. 

More than 14 million people have applied for state welfare while the ministry is now reviewing their claims, a process which will take approximately one month. 

Applicants who qualify will be entitled to different types of assistance including a career training program.

Gee the government is ending helping 14 miilion very poor Thai's  If my math is right that is about 1/5 of the population.  They can work quick if can do 14 million in one month.. That is a few hundred thousand a day. Must have a lot of people working on that. or will simply rubber stanp refusals. 

 Revenue is down need to get money for submarines some where.

[darksidedog]

I hope we don't reach the stage where the Government has to stop siphoning money off to line their own pockets.

[Bob12345]

57 minutes ago, lovelomsak said:

They can work quick if can do 14 million in one month.. That is a few hundred thousand a day. Must have a lot of people working on that. or will simply rubber stanp refusals. 

They wanted several months to count votes if an election ever takes place, but somehow it is easier to review an application form than just talley the number of times a box has been crossed on a standard piece of paper.

 

Thailand keeps surprising me.

[Reigntax]

The military appointees once again miss their target. Who would be surprised!

[klauskunkel]

3 hours ago, webfact said:

Finance Ministry misses revenue target in first 8 months of fiscal 2017

Weren't they trying to collect back taxes from Thaksin earlier this year. I vaguely remember some headlines to that effect..., but no follow-up.

must have fizzled like everything else, and now they missed their target. Maybe one of the many generals could help them with their aim?

[Paul Henry]

The target for 2017 would have been made in 2016 when oil prices had already fallen therefore why would any sensible government budget on prices  that are $40 -$50 above both WTC and Opec prices.Just another excuse of poor and inefficient management.

[Eric Loh]

5 minutes ago, Paul Henry said:

The target for 2017 would have been made in 2016 when oil prices had already fallen therefore why would any sensible government budget on prices  that are $40 -$50 above both WTC and Opec prices.Just another excuse of poor and inefficient management.

Well the junta got to blame someone or something. Can't fool all the people though. Consumption is seriously down and declining and will take along falling indirect taxes. More companies go bust and less revenue and corporate taxes. The current account surplus may sound good but reflect on poor manufacturing outlook. However one thing is looking up despite the reduced revenue is that the submarines and tanks purchase will go according to plan. The next government will probably staring at a zero or even a minus treasury coffer. I hope some then will take the junta to task for serious dereliction of duties and seized the generals' assets.. 

[chainarong]

The Minister surely jokes , announces they missed the target then doesn't say by how much , what sort of a Finance Minister have Thailand got , the fiscal target turned out to be a big fizzer, much more than thought , well at least they were honest to a certain degree, till it came to how much.......................................

[Lucky mike]

Horses for courses ?

[YetAnother]

7 hours ago, webfact said:

a process which will take approximately one month. 

not a chance

[lovelomsak]

3 hours ago, Eric Loh said:

Well the junta got to blame someone or something. Can't fool all the people though. Consumption is seriously down and declining and will take along falling indirect taxes. More companies go bust and less revenue and corporate taxes. The current account surplus may sound good but reflect on poor manufacturing outlook. However one thing is looking up despite the reduced revenue is that the submarines and tanks purchase will go according to plan. The next government will probably staring at a zero or even a minus treasury coffer. I hope some then will take the junta to task for serious dereliction of duties and seized the generals' assets.. 

Cannot do a thing to him it is in the new constitution he is a safe as can be. It was one of the first things inked in.

Edited June 12, 2017 by lovelomsak