BANGKOK, Thailand – The Excise Department of Thailand is on track to meet its revenue collection target of 520 billion baht for the 2024 fiscal year.
Director-General Ekniti Nitithanprapas announced that in the first 11 months of the fiscal year, the department had already collected over 480 billion baht, representing a 10.6% increase compared to the previous year. This achievement comes despite moderate economic growth of 2.5%, exceeding expectations.
The department’s success in reaching its target is particularly notable given the challenges posed by government tax relief measures, including reductions in diesel and gasoline taxes and incentives for electric vehicles (EVs).
Looking ahead to 2025 fiscal year, Ekniti acknowledged that the shift from internal combustion vehicles to EVs will present new challenges, as vehicle taxes are the department’s second-largest revenue source after oil taxes.
In line with government strategies to position Thailand as a hub for right-hand drive vehicle production, Ekniti noted that several leading automakers are showing interest in investing in the country. This is expected to contribute to future revenue growth.
Additionally, the Excise Department has intensified enforcement efforts, resulting in over 31,000 prosecutions for tax-related violations, a 27% increase from last year. The department is also modernizing its services, integrating digital technologies, and preparing to launch a new AI-powered website next week to enhance services for business operators.
For more information, the Excise Department can be reached via its call center or through the new website, which will be operational soon. (NNT)
