Govt revenue exceeds target

 Somchai Sajjapongse, the ministry's spokesman, said that tax collections in the first 10 months of the fiscal year have already exceeded the target by Bt40 billion. Total collections reached Bt1.24 trillion, 9.7 per cent higher than the same period last year or 3.4 per cent above target. Attributing to the increase is chiefly because higher corporate income taxes, value added tax and import tariffs.

 In July alone, the collections totalled Bt105.5 billion, Bt6.6 billion above the target or 22.1 per cent higher than the same month last year. He attributed the results to the higher value added taxes on imported crude oil and natural gas, as well as higher income from state enterprises such as Thailand Tobacco Monopoly and Port Authority of Thailand.

 He admitted that economic stimulus measures resulted in lower-than-expected special business tax and individual income taxes in July.