Tax collections up in October

The Customs Department last month collected Bt7.81 billion, exceeding the target by 21 per cent, he said. However, it was down 10 per cent year on year.

Pradit said Customs collected valuedadded tax (VAT) of Bt16.94 billion, up 13.5 per cent year on year, thanks to a recovery in imports.

Figures showing greater imports of machinery and raw materials, such as steel and precious stones, suggested private investment might be on th upswing.

The Revenue Department's tax receipts last month exceeded the target of Bt72.21 billion by 10.7 per cent.

The department collected Bt14.72 billion in personal income tax, 5.5 per cent above the target, and Bt16 billion in corporate income tax, surpassing the target by 10.6 per cent.

VAT collection reached Bt39.4 billion, 13.5 per cent above the target, said Pradit. Consumer confidence in the economic recovery contributed to that rise.

However, Pradit said a global economic recovery remained uncertain, especially with continued high unemployment in the United States.

The Revenue Department has targeted tax collection of Bt1.1 trillion for fiscal 2010, with its share representing 75 per cent of government tax revenue. Customs has targeted tariff collection of Bt73.8 billion, accounting for 5 per cent.

The Finance Ministry expects increasingly lower tariff collections, due to tradeliberalisation agreements resulting in rates being reduced or eliminated.