Government revenue exceeds target, indicating economic expansion


In the 11 months of the fiscal year – from October 2021 to August 2022 – revenue reached 2.25 trillion baht, the ministry said.

“Compared to last year, revenue collection increased by 6.8 percent due to the expanding economy, which boosted domestic consumption and imports,” said Pornchai Theeravet, Director of the Bureau. of Fiscal Policy (FPO) and Ministry Spokesperson.

The Revenue Department collected 1.86 trillion baht in the past 11 months, up 248 billion baht, or 15.3 percent, year-on-year. The department exceeded the target by 14.6%, or 238 billion baht. Most of the increase in revenue came from value added tax and corporation tax.

The excise department, meanwhile, collected 465 billion baht, down 5.8 percent year on year, down 28.7 billion baht. The department missed its target by 15%, or 82.2 billion baht. Pornchai attributed the decline to the reduction in diesel tax in an effort to lower the cost of living.

The Customs Department’s collection of 100 billion baht rose 7.8 percent year-on-year, up 7.03 billion baht. The department exceeded the target by 9.5%, or 8.79 billion baht.

Revenues brought in by state enterprises in the 11 months of the fiscal year also exceeded the target of 11 billion baht. Income from other government agencies, however, missed the 17.1 billion baht target, Pornchai added.

The government has set a revenue target of 2.49 trillion baht for the 2023 fiscal year, which begins next month.


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