Mr. Pornchai Thiraveja, Financial Policy Advisor of Fiscal Policy Office and Ministry of Finance’s Deputy Spokesperson stated that the government’s net revenue collection in the first 8 months of fiscal year 2018 (October 2017 – May 2018) was 1,571,788 million baht, 60,008 million baht or 4.0% above the target and 4.7% 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 28,887 and 25,629 million baht, or 25.7% and 25.6%, respectively. Moreover, the collection of petroleum tax, automobile tax, and tobacco tax were significantly above the targets.
Mr. Pornchai concluded that, “The government’s revenue collection remains higher than the target and in line with our expectation. Moreover, a significant increase in the imports of goods and services, especially imports of raw materials and intermediate goods, also bode well for economic growth and the government’s revenue collection for the rest of fiscal year 2018.”
Source: Ministry of Finance