BANGKOK, May 17 (TNA) – The Revenue Department garnered more than 956 billion baht in tax revenue in the first seven months of fiscal 2019, about 22 billion baht higher than the target.
Revenue Department spokesman Pinsai Surasawadee said that the department collected 956 billion baht in taxes from October 2018 to April 2019, up 6.4 per cent from the previous year.
Petroleum income tax accounted for 23 billion baht, higher than the target at 19 billion baht due to speeding up tax collection and higher oil prices.
The department collected 23 billion baht in specific business taxes, about 19 billion baht higher than its target as well as 9.4 billion baht from stamp duties.
The spokesman said in the second half of the fiscal year, tax collection would slow down in accordance with the economic condition and fluctuation in the global trade.
However, the department will increase its efficiency in tax collection. It targets the tax revenue for the whole year will reach two trillion baht, which will help maintain the country’s financial stability. (TNA)
