Connect with us
CGIF-10th-Year-Anniversary

Economics

Thailand’s tax revenue nosedive on political stalemate

Thailand’s collection of excise taxes, projected at Bt460 billion in the 2014 fiscal year, will be short by Bt50 billion, Deputy Finance Minister Benja Louischaroen said today.

Aishwarya Gupta

Published

on

Thailand’s collection of excise taxes, projected at Bt460 billion in the 2014 fiscal year, will be short by Bt50 billion, Deputy Finance Minister Benja Louischaroen said today.

She said the Excise Department has encountered a tax collection shortfall of Bt4 billion in the first quarter of the budget year, starting October. The Customs Department reported that the weakened baht has impacted imports of luxury goods and the private sector has delayed imports of machinery and raw materials, reducing the value of imports by Bt100 billion compared to last year.

She said customs tax revenue in Q1 was Bt6 billion lower than projected and it is predicted to fall short by 10 per cent this year. Revenue in the first quarter was Bt9.8 billion higher than targeted, said Ms Benja.

The government’s massive investment projects including the Bt2 trillion infrastructure development and Bt350 billion flood prevention and water management projects have been stalled but other state investment schemes will help drive Thailand’s economy.

She said the Finance Ministry has mapped a contingency plan to cope with the “Bangkok shutdown” on Jan 13 and possible power loss at government properties, reassuring that state employee payrolls will not be affected. Treasury reserves are as high as Bt600 billion, sufficient for disbursement in various projects, she said. MCOT online news

via Falling baht, political stalemate hit tax revenue | MCOT.net | MCOT.net.

Comments

Economics

96% of Foreign Investors still confident in Thailand says BOI

The Board of Investment of Thailand’s (BOI) latest survey, shows most foreign investors, estimated at 96%, are still confident in the country, and are willing to bring forward their investments.

National News Bureau of Thailand

Published

on

BANGKOK (NNT) – With the COVID-10 pandemic causing significant disruption around the world including in Thailand, the Board of Investment of Thailand’s (BOI) latest survey, shows most foreign investors, estimated at 96%, are still confident in the country, and are willing to bring forward their investments.

(more…)
Continue Reading

Economics

Thailand Tops Bloomberg’s Emerging Markets List

Bloomberg surveys show that analysts are penciling in high rates of growth next year for some of those that have been hardest-hit in 2020.

Boris Sullivan

Published

on

Thailand and Russia are well placed to be among the emerging-market standouts that could beat expectations next year, according to a Bloomberg study of 17 developing markets gauging their outlook for 2021.

(more…)
Continue Reading

Economics

COVID-19 pandemic wiped out 81 million jobs in Asia-Pacific countries

Some 81 million jobs lost as COVID-19 creates turmoil in Asia-Pacific labour markets, according to ILO report.

Boris Sullivan

Published

on

Drops in working hours due to the Covid-19 crisis have had a devastating effect on jobs and incomes in Asia and the Pacific according to a new report by the International Labour Organization (ILO).

(more…)
Continue Reading
Advertisement

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,413 other subscribers

Trending