Revenue Dept exceeds collection target in first 2 months of fiscal 2023

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Bangkok: The Revenue Department is on course to meet its revenue collection target of 2.2 trillion baht in fiscal 2023, up 3.75% from last year, its director-general Lavaron Sangsnit said.

 

Revenue in October, the first month of the fiscal year, rose 19.5% year on year to 232 billion baht. November’s revenue also exceeded the target after the full reopening of the country spurred business activity, especially in retail and logistics, Lavaron said.

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However, he warned of tougher times to come as a global economic slowdown looms in the next calendar year.

 

He also expects revenue from fuel tax in fiscal 2023 to fall given crude oil prices are forecast to drop from around US$100 to $90 per barrel.

 

He said the department was using artificial intelligence systems to detect tax evasion.

Source: The Nations