Revenue Dept sees higher tax collection than expected

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The Revenue Department collected 700 billion baht in tax, 85 billion baht more than the estimated 615 billion, in the first five months of fiscal year 2022 (October 2021 to February 2021), it reported on Tuesday.

Revenue Dept sees higher tax collection than expected

“The higher-than-estimated collection is mainly due to an accelerating economic recovery from the impact of Covid-19 in late 2021 and early 2022,” said director-general Ekniti Nitithanprapas.

He said the department expected tax collection for fiscal 2022 to meet the target of 1.87 trillion baht.

“Businesses such as wholesale, retail, logistics and medical equipment have seen a steady growth amid the Covid-19 situation,” Ekniti said.

“Furthermore, we have started collecting a new e-service tax, which is responsible for about 3 billion baht of revenue. So far, 123 foreign companies have registered with the department to pay the tax. We expect more to sign up this year,” he added.

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Published : March 09, 2022

By : THE NATION

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