Government targets tax reform in attempt to boost revenue

Tax reform to increase government revenue must be seriously pursued to enhance fiscal strength, says finance permanent secretary Lavaron Sangsnit.

- WICHIT CHANTANUSORNSIRI

According to Mr Lavaron, this year the Finance Ministry must address the direction for tax reform, with efforts to increase government revenue expected within a month.

He said that if the government could collect revenue equivalent to 18% of GDP, it would allow it to begin formulating a balanced budget after more than 20 years of operating with budget deficits.

Government revenue collection currently totals 15.5% of GDP, which is lower than previous levels of around 17% of GDP.