Excise revenue 5% below target
Excise tax revenue collection in the first six months of the 2014 fiscal year was 5 per cent below target.
Excise Department Director-General Somchai Pulsawas revaled today that the excise tax revenue during October 2013 and March 2014 totalled Bt205.097 billion.
"The revenue was below target due to declines in the automotive, tobacco and beverage sectors, following political turbulence and tainted confidence in the economic outlook," he said.
Though expecting the situation to improve in the following six months, he said total tax revenue in the fiscal year could fall short of the Bt463 billion target by Bt23 billion or 5 per cent. Affecting this are the political instability and lower domestic demand as well as the extension of diesel tax waiver. The waiver costs the department about Bt9 billion a month.
He also assured all who bought vehicles under the first-car buyer scheme that the department has about Bt9 billion in reserves, enough to accommodate tax rebates.