Korn said the government would receive huge amounts of cashes from taxes in May.
As for the “huge amount of cash” scheduled for may… Yes, it’s corporate taxes (may and september).
But Korn is a clown because he relies on a ressources that is going down, and will continue to do so… Businesses will make less and less profits.
The report for government revenues in may has been published (source Finance Ministry).
And guess what ? Corporate taxes crashed 38,5 % year on year, from 139,5 billions THB in may 2008 to 87,7 billions !
It’s good to be good. But it was really a too easy shoot…
My point : I’m not particularly smart. It’s Korn who is totally dumb.
He’s a disgrace, nothing less. Like a child waiting for Santa Claus with a stupid smile on his face… The thai economy was already in recession, and this clown wanted us to believe that thai companies would pay a lot of taxes on profits they were not making anymore.
He should be fired.
As for the VAT, another tasty Green Shoot : -20 % at 32 billions. VAT is a good indicator of consumption… No improvement.
But wait a minute !… Abhisit promised us honey, peace and love with his “special allowance”… in april ? 2000 THB to 8 million low earners ? “Fire up the thai economy” ?
“We want to help employees with the low income,” he said. “What we do is to give cash into their hands to induce spending by injecting cash into the economy. This would help the economy in the first, second and third quarters.“ (Bangkok Post)
Said Abhisit, end of january... Well apparently, the policy did just what it was supposed to do : a fart. A light fart. 😉
“Help the economy in the first, second and third quarter” ? !… What a master clown !
That’s the killing point with Internet : you talk like a dumbass, and then It follows you… All your life long.
The total government net revenues in may : – 21,6 % at 217 billions THB (may and september are always high, thanks to corporate taxes).
And the official report, with the year on year comparisons.
You want a good laugh ? You want to understand how sensitive those issues are, and how desperate the government is ?
Just read the article published by Bangkok Post, that contains a few statements from officials. It’s surreal.
-Tax revenues for May exceeded targets for the first time this fiscal year, thanks in part to tax increases in fuel, alcohol, beer and tobacco, the Finance Ministry said yesterday.
Surreal. The total revenues are down 21 % compared to may last year, but the clowns are focusing on… taxes on alcohol, tobacco and fuel… How strange… they don’t speak about corporate taxes. 😉
-Somchai Sujjapongse, the director-general of the ministry’s Fiscal Policy Office, noted one promising sign was that value-added tax collections totalled 32 billion baht in May, significantly higher than the 20 billion baht per month collected earlier this year.
“Even though VAT was lower than the 40 billion baht in revenues collected in normal times, the increase from previous months is a good sign that consumption is picking up,” he said.
This is a gross lie. It’s amazing ! The total VAT never went down 20 billions per month in the recent months (look at my freaking chart !). And may is LOWER than april… And year on year, it’s a drop of 20 %.
So where are the “promising signs” ?
Ah yes I forgot : on the moon.