the government’s net revenue collection in October 2023, the first month of the fiscal year 2024, was 228,724 million Baht. The collected revenue was 2,621 million Baht or 1.2% higher than the revenue target but close to the same period of the previous year.

the government’s net revenue collection of fiscal year 2023 (October 2022 – September 2023) was 2,664,719 million Baht, which was 174,719 million Baht or 7.0% higher than target and 5.3% higher than the previous fiscal year.

Mr. Pornchai Thiraveja, Director General of the Fiscal Policy Office and Spokesperson of the Ministry of Finance, stated that the government’s net revenue collection in the first 11 months of fiscal year 2023 (October 2022 – August 2023) was 2,368,862 million Baht, which was 153,293 million Baht or 6.9% higher than target and 4.9% higher than the same period of the previous year. The collected revenue from the Revenue Department was higher than target especially Corporate Income Tax, VAT, and Personal Income Tax. The revenue from Other Government Agencies was higher than target due to special revenues that were not included in the revenue target such as the remittance of extra-budgetary fund’s excess liquidity, refund from unexpended loan under Emergency Decree Authorizing the Ministry of Finance to Raise Loans, to Solve Problems, to Remedy, and Restore the Economy and Society as Affected by the Coronavirus Disease Pandemic B.E. 2563 (2020), premium from bond issuance, and cellular royalty. Moreover, the revenue from the Customs Department exceeded target as import value was better than expected as a result of the depreciation of Thai Baht, as well as additional import duties from a court ruling. Meanwhile, the collected revenue from the Excise Department was lower than target as a result of a 10-month tax cut on diesel to alleviate the impact of high energy price.

Mr. Pornchai Thiraveja, Director General of the Fiscal Policy Office and Spokesperson of the Ministry of Finance, stated that the government’s net revenue collection in the first 10 months of fiscal year 2023 (October 2022 – July 2023) was 2,148,820 million Baht, which was 150,899 million Baht or 7.6% higher than target and 5.2% higher than the same period of the previous year. The collected revenue from the Revenue Department was higher than target especially Corporate Income Tax, VAT, and Personal Income Tax. The revenue from Other Government Agencies was higher than target due to special revenues that were not included in the revenue target such as the remittance of extra-budgetary fund’s excess liquidity, refund from unexpended loan under Emergency Decree Authorizing the Ministry of Finance to Raise Loans, to Solve Problems, to Remedy, and Restore the Economy and Society as Affected by the Coronavirus Disease Pandemic B.E. 2563 (2020), premium from bond issuance, and cellular royalty. Moreover, the revenue from the Customs Department exceeded target as import value was better than expected as a result of the depreciation of Thai Baht, as well as special revenue from additional import duties from a court ruling. Meanwhile, the collected revenue from the Excise Department was lower than target as a result of a temporary tax cut on diesel to alleviate the impact of high energy price since the beginning of the fiscal year.

Mr. Pornchai Thiraveja, Director General of the Fiscal Policy Office and Spokesperson of the Ministry of Finance, stated that in the first 9 months of fiscal year 2023 (October 2022 - June 2023), the government has received 1,957,045 million baht of revenue on cash basis and disbursed 2,565,504 million baht of expenditure. To finance such deficit, the government has borrowed 435,243 million baht. Therefore, the treasury reserve at the end of June 2023 was at 352,814 million baht.