Revenue aces 2018 target

The Revenue Department managed to collect more tax revenue than targeted for fiscal 2018, thanks mainly to more efficient inspection of large companies with understated tax bills.

The department gathered 1.92 trillion baht in tax revenue for the fiscal year, which ended Sept 30, outpacing the target by 46.7 billion or 2.5% and rising 123 billion or 7% year-on-year, said directorgeneral Ekniti Nitithanprapas.

Positive factors included tighter inspection of large firms, backdated tax probes on those using fake tax invoices, and tax advice for business operators in the cash economy with the potential to pay taxes, Mr Ekniti said.

An increase in some major tax collection, including corporate income tax, petroleum tax and value-added tax (VAT), also boosted the department’s revenue.

In fiscal 2018, the country’s largest taxcollecting agency by revenue fetched 664 billion baht from corporate income tax, up 6% year-on-year; 63.7 billion from petroleum taxes, surging 61.7% on higher oil prices; and 793 billion baht from VAT, up 6.8%.

To make this fiscal year’s tax revenue target reachable, the department aims to leverage technology to enhance staff efficiency and make it more convenient for taxpayers, in accordance with its plan for digital transformation.

The department wants to use data analytics to improve tax probe efficiency and analyse data in the supply chain, Mr Ekniti said.

Enlarging the tax base and encouraging taxpayers to take initiative in paying their taxes are other measures to reinforce tax-collecting efficiency in a sustainable manner, he said.

The department’s revenue target for this fiscal year rose 4.4% from fiscal 2018 to 2 trillion baht.

Mr Ekniti said recently the adoption of new technologies like big data and pursuing a digital tax collection system are priorities for the department.

Pooling data from outside organisations such as electricity and tap water consumption for individuals and companies will be the next step for analysis.