The Ministry of Finance announced that the government has collected revenues for the first seven months of the year. 2.7 percent below the target

As for the overall picture of the Tax Department's revenue collection in FY2024, it is acceptable that it has not met the target, said Mr. Shulaban Amornvivat, Deputy Minister of Finance. But this is understandable. Because in the past the government issued measures to help people. Especially reducing taxes on oil. The person responsible for this is the tax department. This causes an average income loss of 20,000 million baht per month, so sub-target collection is understandable. But the ministry insists that it will continue to push forward collection efficiency. – Get as close to the specified target as possible

Mr. Pornchai Therawit, Director of the Fiscal Policy Office, in his capacity as the Ministry of Finance's official spokesman, revealed the results of net government revenue collection during the first seven months of fiscal year 2024 (October 2023 – April 2024). 2024) The government's net revenues amounted to 1,386,040 million baht, 39,102 million baht or 2.7 percent below the estimates in budget documents, especially since the tax department collected less revenue than the estimate. Due to measures to reduce tax rates on diesel and gasoline. In addition, vehicle tax collections are much lower than expected. If this private income were not included, net government revenue would be 4.5 percent higher than the same period last year.

For revenue collection from the three tax departments, the total amounted to 1,463,872 million baht, lower than the estimate of 35,498 million baht or 2.4 percent, but higher than the same period last year by 38,876 million baht or 2.7 percent. The details are as follows:

+++Revenue Department Revenue collection reached 1,090,683 million baht, higher than estimates of 9,598 million baht, or 0.9 percent, and higher than the same period last year by 19,569 million baht, or 1.8 percent.

+++ Tax Department Revenue collection reached 304,506 million baht, lower than estimates of 47,089 million baht, or 13.4 percent, but higher than the same period last year by 27,541 million baht, or 9.9 percent.

+++Customs Department Revenue collections amounted to 68,683 million baht, higher than estimates of 1,993 million baht, or 3.0 percent, but lower than the same period last year by 8,234 million baht, or 10.7 percent.

Meanwhile, the government's financial position according to the cash flow system during the first seven months of fiscal year 2024 (October 2023 – April 2024) amounted to a total of 1,362,102 million baht of revenue sent to the treasury, while there is an overall disbursement and the budget amount is 1,769,691 million baht, as the government borrowed funds to compensate for the deficit in the amount of 294,880 million baht, bringing the treasury balance at the end of April 2024 to 430,076 million baht.

#Government income

#Year 2024