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Economy July 08, 2014 00:00

By The Nation

Tax target likely to be missed this fiscal year

The Revenue Department’s tax collections will likely miss the target of Bt1.89 trillion for this fiscal year, but by not more than Bt90 billion.
Prasong Poontaneat, new director-general of the department, said yesterday that for the first eight months, the shortfall had stood at Bt90 billion, but there are still two months remaining in this fiscal year ending September 30, so the shortfall might not exceed Bt90 billion. 
All regional revenue units have been instructed to accelerate tax collection by increasing efficiency, but they also have to treat taxpayers fairly.
In the first eight months, the government collected Bt1.36 trillion, which was Bt93.3 billion under budget. 
The receipts of the three tax departments were 9.2 per cent or Bt143 billion less than expected.
In the Revenue Department’s case, taxes amounted to Bt1.07 trillion, or 7.5 per cent or Bt87 billion lower than projected.
This was because of collections of value-added tax, which were 6.2 per cent or Bt31 billion less than expected. 
VAT on imports was Bt33 billion less than targeted, while VAT collected in the country was Bt17 billion higher. 
Corporate income taxes were 10 per cent or Bt31.3 billion lower than estimated, while the deficit for petroleum taxes was 18.9 per cent or Bt17.9 billion.