New Revenue chief eyes to raise corporate tax revenue
The newly-appointed Revenue Department chief launches his mission to put more pressure on corporate taxpayers who have incorrectly filed tax forms.
Suthichai Sangkamanee, who became the director-general of the department on October 1, said that the Revenue Department would also launch an inspection on corporate taxpayersâ€™ accounts.
"Companies still fail to show some assets on their books," he said.
He said that this would expand the corporate income tax base, in light of a lower corporate tax rate.
In 2013 fiscal year, the departmentâ€™s revenue collection was Bt1.8 trillion, which was Bt9 billion below the Bt1.9 trillion target. In the year, the corporate tax rate was lowered to 20 per cent from 23 per cent in the previous year.
The department also reported lower revenue on value-added tax and individual income tax.