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Full-year tax shortfall now likely less than forecast



The government collected Bt1.02 trillion in tax revenue over the first nine months of the fiscal year to endJune, which means the fullyear shortfall is now likely to be less than previously forecast.

The Finance Ministry had forecast that the government's fiscal-2009 revenue would be about Bt280 billion lower than the target of Bt1.6 trillion. However, it said in a press release yesterday that the revenue collected until June indicated the shortfall would be less than expected.

Finance Ministry spokesman Somchai Sujjapongse announced that the government had collected Bt143.11 billion in June, taking the nine-month total to Bt1.02 trillion.

The nine months' tax income was 9.8 per cent or Bt110.93 billion below the amount collected in the same period a year earlier. All three key rev¬enuecollecting departments record¬ed yearonyear falls.

Over the nine months, the Revenue Department received Bt825 billion, 8.3 per cent or Bt74.49 billion lower than the same period last year.

Valueadded tax was Bt50.9 billion or 13.8 per cent less than a year ago, caused by less tax collected from imports and consumption - down 25.6 per cent and 3.7 per cent, respectively.

Corporate tax was Bt31.27 billion or 11.3 per cent down, as a result of less business activity since the final quarter of last year.

Specific business tax also decreased, by Bt6.84 billion or 32.8 per cent from last year's first nine months, due to a cut in the tax rate.

Income tax from petroleum busi¬ness increased by Bt20.12 billion or 31.1 per cent, due to higher oil prices.

The Excise Department received Bt206.01 billion over the period, down Bt12.21 billion or 5.6 per cent, due to lower taxation on cars and reduced consumption.

The Customs Department received Bt59.08 billion, Bt14.29 bil¬lion or 19.5 per cent down year on year. This was due to income from import duties coming in Bt14.78 bil¬lion or 20.7 per cent lower than a year ago.

State enterprises received income of Bt62.29 billion, down 23.2 per cent or Bt18.85 billion from a year earlier. For other state agencies, government income was Bt67.34 billion, which is Bt6.65 billion or 11 per cent higher year on year.

Tax refunded to the Revenue Department was recorded at Bt159.54 billion, 5.3 per cent higher than last year. Valueadded tax refunds were Bt124.66 billion, 2.2 per cent or Bt2.76 billion less than last year, while other refunds came in at Bt34.885 billion - a rise of Bt10.76 bil¬lion or 44.6 per cent.

In June alone, the government col¬lected tax income of Bt143.41 billion, 48.6 per cent or Bt46.87 billion higher than in the previous year.



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