First two months of fiscal 2025 sees a big boost in revenue

Intensified tax collection efforts by the Revenue Department in the informal sector and a crackdown on evasion has boosted revenue collection in the first two months of fiscal year 2025 by over 2 billion baht.

Tax collection amounted to 6.107 billion baht, exceeding estimates by 2.572 billion baht.

Pinsai Surasawadi, director-general of the department, explained that the increase in revenue collection was due to a focus on ensuring individuals outside the tax system, as well as those under the system but not paying taxes correctly, complied with their tax obligations. 

This was achieved through data analysis to identify risks among various business sectors, such as the manufacturing, trading and hospitality businesses, ensuring fairness for those already adhering to tax regulations.

He said the department would continue to improve taxpayer services in fiscal year 2025 while incorporating individuals from the informal sector into the formal tax system using modern technology, in line with the government's policy of cooperative compliance.

Regarding the upcoming personal income tax filing season for the 2024 tax year, the Revenue Department is encouraging taxpayers to file their returns online from January 1 to April 8, 2025. Filing online is convenient and fast, and would speed up the tax refund process, the department said.

This year, the department has enhanced the online filing system by providing pre-fill options for deductions and including additional income details, such as dividends from mutual funds or off-market stocks, through the My Tax Account system. The department said it was also prioritising services for e-commerce business operators.

For more details, contact any Revenue Department office nationwide or the Revenue Department Information Centre (RD Intelligence Center) at 1161.