Tax revenues below target | Bangkok Post: business

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Tax revenues below target

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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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