Chart : Total gvt revenues, corporation taxes and personal income taxes

After the VAT (chart here), let’s have a look on some other taxes.

(source Ministry Of Finances) (amounts in billions THB)

-Total (gross) : it includes all the taxes (VAT, corporation, personal, excises, customs etc.).

-The hikes we see periodically is caused by the corporations taxes (bulk is paid in may and august).

-Corporation taxes : very healthy. On Q2 2008, we have a +20 % increase compare to Q2 2007, at 177,3 billions THB.

-Personal income taxes : increase but a much slower pace (+2 % on Q2, after +10 and +9 % on Q4 2007 and Q1 2008). This is caused certainly by the tax cuts package decided by the government (read here)

So where is the damned crisis ? 😉

Well… let’s not forget : time lag.

What the businesses are paying now… is of course related to their results of… last year.

And companies started to feel the pinch of higher PPI (look the chart here) end of 2007.

I should add that “healthy tax collections” is not, by itself, something good or bad. We need to look at the budget of the gvt, the fiscal policies…

And currently, the authorities are digging the deficit by throwing money around.

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Thailand Crisis

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But this time, it's different.

The key to understand the present turmoil is the inevitable... succession of King Bhumibol.


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