Fiscal 2025 collection to miss target

The government's revenue collection for fiscal 2025, which comes to a close at the end of this month, is expected to miss the state target.

- WICHIT CHANTANUSORNSIRI

Although revenue collection is below the target, the government has sufficient treasury reserves to cover expenditure in the 2025 annual budget, which ends on Sept 30, said a source from the Finance Ministry who requested anonymity.

The government's treasury reserves tally 405 billion baht.

In the first 10 months of fiscal 2025 (October 2024-July 2025), the government collected net revenue of 2.25 trillion baht, up 1.8% or 40.8 billion baht compared with the same period last year, but 1.6% or 37.6 billion baht below target.

The main reason for the shortfall was lower vehicle tax revenue, as the growing popularity of electric vehicles reduced collections because excise taxes on EVs are lower than those on internal combustion engine vehicles.