Thailand's Tax Revenue Reaches 996 Billion Baht in First Five Months

Thailand's Ministry of Finance has reported that government revenue collection for the first five months of fiscal year 2025 (October 2024 to February 2025) reached 996.458 billion baht. 
 

This figure is broadly in line with projections and similar to the revenue collected during the same period in the previous year.

According to Pornchai Thiravech, director-general of the Fiscal Policy Office and spokesperson for the ministry, key factors contributing to this revenue performance include:

• Revenue from Value Added Tax (VAT) derived from domestic consumption.
• Carry-over revenue payments from some state-owned enterprises from previous fiscal years.
• Higher-than-expected proceeds from bond sales related to deficit financing.

However, these gains were partially offset by higher-than-anticipated tax refunds issued by the Revenue Department and lower-than-expected revenue from vehicle taxes.

The latter is attributed to a lower volume of vehicle tax payments and the impact of government incentives for electric vehicle adoption.

The Ministry of Finance maintains that overall net government revenue collection for the first five months of fiscal year 2025 remains in accordance with its initial assessment.

The ministry will continue to monitor and manage revenue collection for the remainder of the fiscal year to ensure it aligns with targets and safeguards the country's fiscal stability.
 

In terms of the government's cash flow position for the same five-month period, total revenue remitted to the treasury amounted to 996.092 billion baht, while total budget expenditure reached 1.788468 trillion baht.

To finance the deficit, the government borrowed 544.753 billion baht, leaving a treasury balance of 239.416 billion baht at the end of February 2025.