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Thai Revenue Department report 11% over target earnings

According to FPO director-general Pornchai Thiraveja, revenue for the first four months was 866.643 billion baht, 10% more than it was at the same time previous year.

The following government entities exceeded their revenue goals this year:

The Revenue Department exceeded its goal by 613.298 billion, or 11%, as a result of increasing corporate tax collections brought on by the strengthening economy.

The Customs Department exceeded its goal by 47.112 billion, or 32.7%, after receiving excise revenue as a result of decisions in smuggling cases.

Other organizations that have received funding through their revolving funds, concession fees from mobile phone carriers, and FM radio frequency licensing auctions.

This group’s revenue increased as a result of several state businesses additionally remitting their earnings for the fiscal year 2022.

The government reduced the excise tax on diesel in an effort to lessen the impact of rising prices on consumers, which resulted in the Excise Department’s revenue coming in 14.4% below its target of 160.415 billion.

The government brought in 57.928 billion in income during the first four months of fiscal 2023, 7.8% more than was anticipated and 5.6% more than the prior fiscal year, excluding the Customs Department and other government organizations.

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