Government revenue exceeds target in first six months of fiscal 2023
Government revenue collection in the first six months of fiscal 2023 (October to March) surpassed the target by 8.9%, the Finance Ministry’s Fiscal Policy Office (FPO) said on Thursday.
FPO director-general Pornchai Thiraveja said revenue collection in the first six months amounted to 1.163 trillion baht, which was 6.9% higher than the same period last year.
The government agencies who surpassed their revenue targets this year were:
- The Revenue Department with 915.222 billion, 7.3% above target, driven by higher corporate tax revenue due to the expanding economy.
- Other agencies, which have received revenue from their revolving funds and concession fees from mobile phone operators and auction of licences for FM radio frequencies.
- Some state firms also remitted their income for fiscal 2022, adding to the revenue of this group.
- The Customs Department with 67.322 billion, 27.7% above target, after receipt of excise taxes following rulings in smuggling cases.
The FPO said the Excise Department had collected 237.64 billion baht in revenue, 15.5% below the target, explained by the government’s reduction of diesel excise.
