The government’s revenue collection for the first eight months of the fiscal year fell short of the target by 0.7%, or 12.7 billion baht.
According to a Finance Ministry report, the government’s net revenue collection during the first eight months of fiscal 2025 (October 2024 to May 2025) amounted to 1.70 trillion baht, after deducting tax refunds and the allocation of value-added tax (VAT) revenue to local administrative organisations.
Despite the shortfall, this figure was still 28.8 billion baht or 1.7% higher than the same period last year.
The shortfall was primarily attributed to weaker collections from vehicle excise tax, corporate income tax, and import-related VAT.
For example, some corporate taxpayers decided to pay their corporate income tax on net profits (Form PND.50) using the online system, which has a filing deadline of early June.
All three major tax-collecting agencies — the Revenue Department, Excise Department and Customs Department — collected less than targeted during the first eight months of the fiscal year.
The Revenue Department collected 1.353 trillion baht, 0.6% below target, while the Excise Department collected 354 billion baht, 10.6% less than the target, and the Customs Department gathered 75.8 billion baht, 7.1% below target.
State-owned enterprises contributed 130 billion baht in revenue to the government for the period, exceeding their target by 21.5%.
Meanwhile, other government agencies that generate revenue and must remit it to the state contributed 137 billion baht, surpassing their target by 14.7%.
For the remainder of fiscal 2025, the Finance Ministry plans to monitor and manage revenue collection to strengthen the country’s fiscal position and support the implementation of government policies, according to the report.
