The government managed to earn net revenues of Bt116.31 billion in March, Bt21.27 billion or 22.4 per cent higher than projected, showing the country’s economy had recovered strongly and continuously, according to the Fiscal Policy Office.

In the first half of fiscal 2010 (October 2009-March 2010), the government collected net revenue of Bt675.49 billion, Bt128.89 billion or 23.6 per cent higher than expected.

FPO Director-General Satit Rungkasiri  said the continued economic growth had boosted consumption-related tax collections and import duties.

The top three tax collections stemmed from the value-added tax, oil excise tax, and personal income tax.

In the first half of fiscal 2010 (October 2009-March 2010), the government collected  net revenue of Bt675.49 billion, Bt128.89 billion or 23.6 per cent higher than expected.

The the three Ministry of Finance-supervised tax collection agencies–Excise, Revenue, and Customs Departments–collected higher-than-expected revenue by Bt61.25 billion, Bt58.17 billion, and VB10.68 billion or 41.9, 13.9, and 28.8 per cent respectively.

“Given the higher-than-expected revenue in the first half of fiscal 2010 and the continued economic expansion, the Finance Ministry is confident of earning total revenue for this fiscal year of over Bt1.5 trillion, Bt170 billion higher than projected,” said Mr Satit.

News item Courtesy of Thai News Agency