Government revenue in fiscal 2016 was about 2.39 trillion baht, 0.3% above expenditure and 8.1% more than in the previous fiscal year.
Finance spokesman Krisda Chinavicharana released the figures on Wednesday,
He said revenue topped expenditure by 0.3% in fiscal 2016, at about 2.38 trillion baht. Revenue in fiscal 2015 was about 2.21 trillion baht.
The 2016 revenue resulted mainly from 56.27 billion baht from the auction of 900MHz and 1800MHz frequencies, along with contributions from state enterprises, oil tax, excise tax and personal income tax, which were higher than expected by 2-11%.
"Continuous economic recovery and the Finance Ministry's efforts to collect revenue resulted in collected revenue exceeding both original estimated and additional expenses in fiscal 2016," Mr Krisda said. "This will help strengthen liquidity and the fiscal status of the country and support economic expansion in the next fiscal year."
In fiscal 2016 (from October last year to September this year), the Revenue Department collected 1.76 trillion baht, 7.2% less than expected but 1.7% higher year-on-year.
The collection of value-added tax (VAT) was 8.1% below target but 1.1% higher year-on-year. VAT on imports was 15.5% below expectation and 3.1% lower year-on-year. VAT on domestic consumption was 3% below target, but 3.8% higher year-on-year.
Petroleum income tax was 48.6% lower than expected and 44.6% lower year-on-year. Corporate income tax was 5% lower than expected, but 6.8% up year-on-year. Personal income tax was 1.9% above target and 5.5% higher year-on-year.
Tax refunds by the Revenue Department were 7.3% lower than expected. Allocations of VAT revenue to provincial administration organisations were 15.8% less than expected and those for local administration organisations 5.6% below estimates.
Excise tax was 4.3% higher than expected and 17.9% more than the amount in fiscal 2015.