The Revenue Department may miss its Bt1.74-trillion tax-collection target for fiscal year 2013, hit by the reduction of the corporate-income-tax rate.
Satit Rungkasiri, director-general of the department, said the government had announced a reduction in the corporate rate from 23 per cent to 20 per cent, while mandating that the department increase its revenue collection by 9 per cent for the next fiscal year. The government has no plan to raise any taxes or introduce new ones.
"For this fiscal year, which started in October 2012 and ends in September 2013, our revenue collection will be seriously impacted by the reduction of corporate income tax, which will be lowered from 23 per cent in the first six months of 2013 to 20 per cent in the second half," Satit said.
"However, the department will try to collect Bt1.74 trillion for the next fiscal year, which accounts for more than 80 per cent of the government's total revenue collection."
He said that for the 2012 fiscal year, the department's revenue-collection target was Bt1.62 trillion in.
However, the actual figure was 0.53 per cent below the target because of many factors, including the last year's flood and the reduction of corporate income tax from 30 per cent to 23 per cent.
This reduced revenue collection from corporates by about 5 per cent.
"As the government has no plan for a tax increase, we need to protect ourselves by increasing our productivity in revenue collection, whether by pulling potential taxpayers into the system or improving our service quality," he said.
The Revenue Department yesterday held a meeting of its executives to inform them of department policy and strategy for revenue collection for fiscal 2013. The conference was attended by Tanusak Lek-uthai, a deputy finance minister.
"We have urged all executives of the department to increase their productivity, especially by increasing the number of taxpayers through the Internet, which is now much below the target," Satit said.
"Currently 40 per cent of taxpayers make online tax filings and 30 per cent pay tax through the Internet. However, our target is to have both the number of taxpayers and the amount collected through the online system rise to 80 per cent."
BOOST TO IT SYSTEM
The department is seeking approval for a Bt2-billion loan to improve the efficiency of its information-technology system, a process that will be completed by the beginning of next year.
Installation of the new IT system will take at least six months after that.
"The installation will not be in time for the 2013 fiscal year. Anyway, I have sent our officers to see similar methods of revenue collection by other countries such as South Korea. Some practices will be applied to our department to raise our productivity," he said.
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Article source: http://www.thethailandlinks.com/2012/12/02/revenue-dept-may-miss-2013-target/
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