Bangkok, October 3 (VNA) - The Thai Government collected over 2.5 trillion THB (77.3 billion USD) in net revenue in the first 11 months of the 2025 fiscal year (October 2024-August 2025), 46.8 billion THB higher than the same period last year, but 34.1 billion THB below projections, according to the country’s Ministry of Finance.
The main reasons for underperformance include lower-than-expected vehicle tax collections, impacted by the promotion of electric vehicles (EVs) and fewer taxable vehicle sales. Corporate income tax and import VAT collections were also below target, partly due to increased utilisation of duty-free zones and changing economic conditions.
The Thai Government’s revenue comes from five main sources: three tax departments, remittances from state-owned enterprises (SOEs), and contributions from other agencies such as the Ministry of Finance.
For the first 11 months of this fiscal year, all three tax departments collected amounts below their targets. The Revenue Department collected 2.01 trillion THB, down 1.3% from its target, while the Excise Department amassed 489 billion THB, 11.8% less than its target, and the Customs Department collected 104 billion THB, 7.1% lower than its goal.
Meanwhile, SOEs remitted 169 billion THB to the government, 13.9% above target, while other government agencies contributed 203 billion THB, 26.8% above target.
Government revenue before tax refunds and VAT allocations to local administrative organisations, as required under the Fiscal Decentralisation Act, amounted to 2.98 trillion THB. After these deductions, the government's net revenue was 2.5 trillion THB./.
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