The government collected 2.39 trillion baht in revenue during the last fiscal year, surpassing the target by 2.7%, largely because of contributions from the recent spectrum auctions and premiums from bond sales.
State revenue exceeded the collection target by 63.5 billion baht and surpassed the fiscal 2015 total by 180 billion baht, said Krisada Chinavicharana, director-general of the Fiscal Policy Office.
The higher revenue haul was driven by 56.2 billion baht from the auctions of the 900- and 1800-megahertz spectrum licences and 45.7 billion from income recognition of premiums from bond sales.
The contributions from state enterprise income and personal income tax, larger than expected revenue collection from excise taxes on oil and automobiles, 11.9 billion baht in extra income from gambling tax and contributions from several revolving funds in part from excessive liquidity all padded the government's coffers.
The Revenue Department in the fiscal year ending on Sept 30, 2016, gathered 1.76 trillion baht, 7.2% below target.
The country's largest tax-collecting agency fetched 63.3 billion baht from value-added tax, missing its target by 8.1%, he said. VAT on imported goods fell 49.6 billion off the target mainly because of low crude oil prices, said Mr Krisada.
The weak oil price also took a toll on petroleum tax collection, which was off target by 43.7 billion baht or 48.6%.
Corporate income tax missed the mark by 31.9 billion baht, while personal income tax was 58.3 billion or 1.9% higher than expected because of larger than estimated increases in salary increments.
The Customs Department collected 111 billion baht in revenue the last fiscal year, some 99.5 billion or 4.3% below its target because of cuts in the tax structure and lower export values.
The Excise Department exceeded its revenue target, collecting 517 billion baht, or 21.3 billion more than expected because of higher excise tax rates on oil, beer and vehicles.
Somchai Poolsavasdi, director-general of the department, estimated revenue collection will reach 600 billion baht this fiscal year, exceeding its target by 10% because of the planned diesel excise tax hike.