Governments Net Revenue Collection: The First 8 Months of Fiscal Year 2019 (October 2018 - May 2019)

Stocks and Financial Services Press Releases Thursday June 27, 2019 16:34
Bangkok--27 Jun--Ministry of Finance

Mr. Lavaron Sangsnit, 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 8 months of fiscal year 2019 (October 2018 – May 2019), was 1,645,777 million baht, which was 65,597 million baht or 4.2% higher than the same period of last year and 40,875 million baht or 2.5% higher than revenue target. This was mainly the result of revenue collection from Revenue Department, other agencies, remittances from State-owned enterprises, as well as revenue collection from Customs Department exceeding target by 38,017 36,893 10,675 and 6,950 million baht or 3.2% 35.9% 8.3% and 10.4% respectively.

When compared to MOF's estimation (as of March 2019), which is used for the purpose of revenue monitoring by taking current economic situations and variables that affect government's revenue collection into consideration, net revenue collection in the first 8 months of fiscal year 2019 was 8,194 million baht or 0.5% higher than estimated. Revenue collection from all departments were in accordance with MOF's estimation except remittances from State-owned enterprises due to deferment of remittance schedule. For the rest of this fiscal year, MOF will closely monitor the revenue collection in order to achieve the revenue target.

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