Revenue collection for December 2010 is recorded at over 121 billion

BANGKOK, 19 January 2011 (NNT) – Revenue collection for December 2010 is recorded at over 121 billion THB, higher than the expected amount of nearly 15 billion THB, while revenue collection for the first quarter of 2011 fiscal year is higher than the target by 11.7 % or 41 billion THB.

According to Fiscal Policy Office Director Naris Chaiyasoot, the revenue collection for December 2010 stood at 121.787 billion THB, an increase of 16.9% year-on-year; which is 13.9% or 14.83 billion THB higher than the estimated amount.

The increase was attributed to several positive factors including the national economic expansion, increasing purchase of durable goods subsequent to the expected interest rate hike as well as sales of vehicles in the recent Motor Expo.

The higher-than-expected collection of value-added tax, automobile excise tax, tobacco tax and specific business tax also contributed to the rising revenue.

Revenue collection for the first quarter of 2011 fiscal year, from October to December 2010, is recorded at 392.758 billion THB, which is 11.7% or 41.062 billion THB higher than expected.