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Thailand: Virus seen denting tax revenues as well

  • Mar 09, 2020
The Revenue Department could lower its tax revenue target for fiscal 2020 because business has been stunted by the Covid-19 outbreak, spokeswoman Sommai Siriudomset said on Friday (March 6).

The target is currently Bt2.116 trillion, she said, but many state economic agencies have lowered growth forecasts for gross domestic product in 2020.

To ease taxpayers’ burden in the midst of the virus crisis, the department has extended the deadline for payment to June from March.

It collected Bt540 billion in the first five months of fiscal 2020, which began in October.

The Excise Department collected Bt212 billion and the Customs Department more than Bt35 billion.

Source: https://www.nationthailand.com/business/30383524?utm_source=category&utm_medium=internal_referral