Ms. Kulaya Tantitemit, Inspector General of the Ministry of Finance and Ministry of Finance’s Spokesman stated that the government’s net revenue collection in the first half of fiscal year 2018 (October 2017 – March 2018) was 1,074,964 million baht, 38,063 million baht or 3.7% above the target and 2.5% higher than the same period last year. This was mainly due to revenue collection from other agencies and remittances from state-owned enterprises exceeding the targets by 16,673 and 10,169 million baht, or 18.5% and 17.5%, respectively. Moreover, the collection of corporate income tax, petroleum tax, and automobile tax were significantly above the targets, to the tune of 6,059 5,947 and 4,898 million baht or 3.5%, 283.2%, and 9.4%, respectively.
Ms. Kulaya concluded that, “The government’s revenue collection in the first half of fiscal year 2018 was still higher than the target, supported by revenue from other agencies and state-owned enterprises. Moreover, continuous economic growth also bodes well for income-based tax collection of entrepreneurs. For this fiscal year, the Ministry of Finance expects to achieve the revenue target.”
Source: Ministry of Finance