Tax revenue missed the target by 14.3 billion baht or 2.9% in the first quarter of the 2015 fiscal year that started last October.
However, the government's total revenue exceeded the target by 5.13 billion baht or 1% to reach 506 billion after a 47.1% higher-than-targeted contribution from state enterprises and a 17.2% above-target contribution from other state agencies.
Collection by the Revenue Department fell 9.93 billion baht or 2.8% short of target to 349 billion baht, said Kritsada Jinavijarana, director-general of the Fiscal Policy Office.
Revenue from corporate income tax was off the target by 11%, while value-added tax (VAT) on imported goods was 3.5% below target due to the tumbling oil price.
VAT charged on domestic sales and services, however, was 2.4% above target.
The Excise Department collected 102 billion baht in tax revenue, below the target by 3.83 billion or 3.6%.
The department's performance could be ascribed to lower-than-targeted revenue from cars, alcohol and beer by 19.2%, 14.2% and 19%, respectively.
The Customs Department's revenue collection amounted to 30.3 billion baht, 574 million baht or 1.9% lower than targeted. The increase in excise tax on diesel accounted for the marginal shortfall.
Economic growth in the final quarter last year expanded at a slow pace as a result of delays in public investment, tepid exports and swelling family debt making consumers cautious to spend. The Bank of Thailand estimated growth of 2.7%.
The government has targeted to collect 2.325 trillion baht in this fiscal year and has set its expenditure at 2.575 trillion, leaving the budget in deficit by 250 billion.
Given that the revenue target has a high base, the Revenue Department recently said it has only a slim chance of reaching its collection target of 1.965 trillion baht for fiscal 2015 even though economic growth this year could come in at 4-5%.
The revenue target has been based on the 2014 fiscal year's revenue target of 2.275 trillion baht plus 50 billion. However, revenue collection for the last fiscal year fell about 200 billion baht short of target.
Mr Kritsada said the government's revenue in December alone was off the target by 1.2% to 170 billion baht.