Tax revenues below target

Published: 21 Sep 2012 at 13.01
Online news:

Government tax revenues in August totalled 300 billion baht, 32.3 billion baht less than earlier estimates, Somchai Sajjapong, director general of the Fiscal Policy Office (FPO), said on Friday.

A substantial decline in collected corporate income tax caused by the impact of the great flood late last year was a main reason for the revenue shortfall, Mr Somchai said.

Other reasons included, global economic slowdown, eurozone debt crisis, the government’s measures to strengthen trade competiveness of manufacturers by reducing corporate income tax, and the extension of the excise exemption on diesel, he said.

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banmebkk
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Discussion 15 : 22 Sep 2012 at 12.0115
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Cutting corporate tax is one of the stupidest moves by the PTP government. Why do they need to do that? oh wait because they raise the wages to 300 baht and they want to keep big corporations happy at the same time. I actually do hope Thailand become bankrupt in 5 years so people can see and believe the amount of harm PTP's idiotic policies caused.
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Asian Hand
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Discussion 14 : 22 Sep 2012 at 09.4414
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The mom and pop shops barely make enough money to make ends meet so they don't hit the taxable threshold. However, the landlords of the shophouses they own, different story - some more tax income sources there. D7: another xenophobe - farangs being the source of any tax shortage in this country - trump change compared to Thai's engaging the national sport of tax evasion. K.Ploy and all here so called actress/model friends - there is another source.
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Galong
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Discussion 13 : 21 Sep 2012 at 20.0713
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Discussion #9 - yes, so many seem to dislike companies like Tesco, yet the actually pay their taxes. The mom and pop shops simply don't. I seriously doubt that they declare any good sold. Even if they paid a little bit, all of them together would add up to a substantial amount. Of course, on the other hand, the government would waste most of it, so I hardly blame them. :-)
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pquinlan
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Discussion 12 : 21 Sep 2012 at 19.4812
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D7: To the extent you are right, they can only do it with the complicity, and perhaps at the behest, of several Thai people for whom they work, not to mention the complete absence/failure of any oversight by the authorities.
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bluebottle
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Discussion 11 : 21 Sep 2012 at 19.4511
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They will blame anybody or anything.The finance department like the Export department got there sums completely wrong did they really think profits would be the same as previous years.There estimate for the damage caused by the flood were hopelessly wrong.People who lost stock and production will claim against profits this year what planet are they on?
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aussie
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Discussion 10 : 21 Sep 2012 at 16.4210
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Dis#7 hamaroid , i should have known it was all those no good farangs that are stealing all the Thai taxpayers baht ?
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supermax
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Discussion 9 : 21 Sep 2012 at 15.289
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Do you know that thai person who earn no more 20,000 Bahts/month doesn't pay income tax ?
Then people saling goods and food in the street never declare their income...
So they are many many millions thai people who don't pay tax... That's incrediblem but that's reality...
Please, don't point the farang who try to evade tax, point all people who do that !!! Many thai rich people try to evade, don't forget them...
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soltair
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Discussion 8 : 21 Sep 2012 at 15.168
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"had created confidence that tax revenues for the 2012 fiscal year overall would not be far below the set target" Won't you just love this one, another prediction, hopefully not a white lie as we are getting accustomed to. Perhaps the shortfall can be collected at the "Red Villages"? They should also pay a fair share right? Just a thought. This man-made flood has cost Thailand a thousand lives and multi multi Billions of Baht. All previous governments put together this one is far worse.
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android
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Discussion 7 : 21 Sep 2012 at 14.567
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Some farangs staying in thailand are operating or working in so called language studying institutes, they deliberately evade from paying their income and corporate tax unnoticed. The tax and revenue department needs to take a look on this issue and penalize these offenders.
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pete
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Discussion 6 : 21 Sep 2012 at 14.536
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Disc 2: Do your maths - 300 Bn revenue is just for August, so yes you see the government spending hundreds of billions on various projects. Annual tax revenues are over 1.5 trillion. Get it?
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