For the first 11 months of fiscal 2023, government revenue exceeded its target by 6.9%, or 153 billion baht, achieving a treasury balance of 300 billion baht at the end of August, said Fiscal Policy Office director-general Pornchai Thiraveja.
Mr Pornchai said the government collected net revenue of 2.36 trillion baht for the first 11 months of fiscal 2023 (October 2022 to August 2023), an increase of 6.9%, an improvement on 4.9% growth recorded in the same period last year.
The Revenue Department, the country's largest tax collection department, collected 1.92 trillion baht, driven by higher corporate tax revenue, VAT and personal tax.
The Excise Department collected 435 billion baht which fell below the target as a result of the reduction in the excise tax rate on diesel fuel for 10 months to alleviate the impact of high living costs from the surge in crude oil prices.
The Customs Department collected 117 billion baht which exceeded the target due to a higher than anticipated value of imports as the result of the baht's depreciation and the retrospective payment of customs duties in accordance with criminal proceedings.
Other state agencies remitted income to the ministry, attributed to revenue from their revolving funds, remittance of emergency loan decree funds authorised by the Finance Ministry during the pandemic, concession fees from mobile phone operators, and bond issuance to offset fiscal deficit.
The treasury balance at the end of August was 317 billion baht.
