Thai Govt revenue exceeds target

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Thai Govt revenue exceeds target 
The Nation: 16 Feb 2010
Govt revenue exceeds target by 19.3%

Government revenue in January zipped past target by 19.3 per cent, up Bt17.8 billion to Bt110 billion, thanks to higher consumer spending and imports.

Sathit Rangkasiri, director-general of the Fiscal Policy Office, said on Monday that government revenue in the first four months of the 2010 fiscal year, from October to January, was 22.8 per cent or Bt85 billion above forecast.

Earlier, the Finance Ministry said annual revenue could end up Bt200 billion over the target of Bt1.35 trillion as the economy continues to recover.

In the first four months, total revenue reached Bt458.91 billion. The Excise, Revenue and Customs departments all reported impressive performances, with collections running 39.2 per cent, 13.1 per cent and 28.4 per cent above budget.

In January, value-added taxes and oil and automobile excise taxes exceeded estimates by Bt7.8 billion. VAT was Bt7.8 billion ahead of target partly due to imports of gold worth over US$1 billion (Bt33.7 billion).

The ministry is confident that in 2010, revenue collection would meet the revised target of Bt1.52 trillion.