The Revenue Department faces a challenging year in meeting its tax collection targets, owing to a slowdown in economic activities. Despite this, five sectors have been identified as promising.
The department, led by director-general Kulaya Tantitemit, has increased its revenue collection target to 2.27 trillion baht (US$61.7 billion) for the fiscal year 2024, up from 2.02 trillion baht (US$55 billion) in 2023, a rise of approximately 3%.
This aligns with Thailand’s projected GDP growth of 2.7%, as estimated by the National Economic and Social Development Council, and the Fiscal Policy Office’s 2.8% growth prediction.
Kulaya attributes the challenging tax collection target to various factors, including external problems impacting the export market, increased energy prices, interest rates, and government expenditure being delayed until April….
