Revenue collection in January 2011 was recorded at about 125 billion THB, or 20.4 billion THB higher than the estimate thanks to the economic expansion and a rising trend of interest rate.
According to Fiscal Policy Office Director Naris Chaiyasoot, the government collected a total of 125.751 billion THB in net revenue in January 2011 , 19.4% or 20.467 billion THB higher than the estimate and 9.9% higher than that collected in the same month last year.
The higher collection was attributed to continuous economic expansion, the potential rise in interest rate and some remaining positive effects from the Motor Expo in December last year. Major collections that were better than the estimate were from corporate income tax, personal income tax, value added tax and excise tax on vehicles.
Net revenue collection for the past four months in the 2011 fiscal year (from October 2010 to January 2011) was recorded at 521.228 billion THB, higher than the estimate by 14.1% or 64.247 billion THB, and 12.5% higher year-on-year.
The Departments of Revenue, Excise and Customs could collect revenue higher than the expected amount by 36.596 billion THB, 17.365 billion THB and 3.082 billion THB respectively. Revenue collection from state enterprises was also higher than the estimate by 5.325 billion THB.
The director voiced his confidence that revenue collections throughout the 2011 fiscal year would be over the target of 120 billion THB due to the continuous economic expansion and the outstanding collection performance in the past four months.