The Treasury Department admits that tax revenue missed the target due to the strong baht and the reduction of excise tax.
Mr. Chulaphan Amornvivat, Deputy Minister of Finance, said that the tax revenue at the end of the fiscal year 67 was 4-5 billion baht lower than the target from the net income of the fiscal year 67 (October 66-August 67) totaling 2.45 trillion baht. He acknowledged that the target may have been missed since the middle of the fiscal year because the excise tax was reduced to help with the tight diesel price in order to reduce the cost burden for the people, causing the excise tax to miss the target by 28 billion baht. The main factor that seriously affected was the appreciation of the baht, which affected the value-added tax from imports, causing the tax revenue to miss the target.
Admitted that it will not affect the budget management process. Cash flow disbursement can still be managed as usual. Admitted that the pressure from the baht has begun to ease after the MPC reduced the policy
interest rate by 0.25 percent in the past. We must keep an eye on how the MPC will consider interest rates in the next round.
Mr. Laworn Saengsanit, Permanent Secretary of the Ministry of Finance, admitted that tax revenue at the end of fiscal year 67 was 4-5 billion baht lower than the target, which did not affect the fiscal balance because the budget disbursement every year is not 100% disbursed, so it did not affect the current cash flow. -515-Thai News Agency
Source: Thai News Agency