End of september, end of the fiscal year for the thai government. Data have been updated on the website of the Finance Ministry.
Total revenues (gross) : 1 674 billions THB, -8,8 % compared to the previous fiscal year (october 2007 to september 2008)
Corporation taxes : -14,8 % (392 billions THB)
Personal income taxes : -3,5 % (197 billions THB)
VAT : -10,8 % (at 343 billions THB)
And we are talking in current THB… So factor in inflation plus the several “stimulus” packages… that’s weak.
What about september alone ?
The VAT is at -10 % compared to september 2008. That’s better than august (-16 %). Corporation taxes take a hit at -82 % (128 billions THB).
Corporation taxes should remain under pressure.