BANGKOK, 18 February 2015 – The government’s revenue collection during the first four months of fiscal year 2015 exceed target by 1.1 billion baht, according to Deputy Finance Minister Wisudhi Srisuphan.
Mr. Wisudhi attributed the above-target collection of tax revenue to a greater-than-expected amount of VAT collection, hence signaling heightened consumer confidence. He also spoke of the planned merging of the tax laws into a single bill, saying that future taxation would be based on the suggested retail price instead of factory price or wholesale price.
Meanwhile on Tuesday, Paisal Chuenjit, deputy director-general of the Customs Department, indicated that customs officials were being more stringent on international passengers who arrive with newly purchased items worth more than 10,000 baht. He said such goods need to be declared in order for them to be correctly taxed. The rate of duty would be around 30 percent for general goods, according to Mr. Paisal.
