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 9 months of fiscal year 2023 (October 2022 – June 2023) was 1,956,492 million Baht, which was 136,613 million Baht or 7.5% higher than target and 5.2% higher than the same period of the previous year. The collected revenue from the Revenue Department were higher than target especially Corporate Income Tax, VAT, and Personal Income Tax. The collected revenues from Other Government Agencies had special revenues not included in the revenue target; for example, the remittance of extra-budgetary fund’s excess liquidity, cellular royalty, premium from bond issuance, and refund from unexpended budget. 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.

the government’s net revenue collection in the first 8 months of fiscal year 2023 (October 2022 – May 2023) was 1,643,075 million Baht, which was 122,378 million Baht or 8.0% higher than target and 4.9% higher than the same period of the previous year.

in the first 7 months of fiscal year 2023 (October 2022 – April 2023), the government has received 1,360,304 million baht of revenue on cash basis and disbursed 2,021,697 million baht of expenditure. To finance such deficit, the government has borrowed 350,625 million baht. Therefore, the treasury reserve at the end of April 2023 was at 231,696 million baht.

in the first half of fiscal year 2023 (October 2022 – March 2023), the government has received 1,161,991 million baht of revenue on cash basis and disbursed 1,795,423 million baht of expenditure.

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 5 months of fiscal year 2023 (October 2022 – February 2023) was 989,837 million Baht, which was 90,451 million Baht or 10.1% higher than target and 7.8% higher than the same period of the previous year. The collected revenue from the Revenue Department, especially Corporate Income Tax, VAT, and Personal Income Tax were higher than target following economic expansion. The revenues from Other Government Agencies exceeded target due to special revenues from the remittance of extra-budgetary fund’s excess liquidity, cellular royalty, and income from FM radio frequency licenses’ auction. The remittances from State-Owned Enterprises were higher than target due to deferred remittances from the previous fiscal year. Moreover, the revenue from the Customs Department exceeded target following imports growth 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.