Businesses help tax office stay on track

PHUKET: With 11 months of the taxman’s year complete, The Phuket Provincial Revenue Office reports that collections are up very slightly compared with the same period last year. There have been significant falls in VAT revenue, down 47 million baht; in Specific Business Tax (mostly from banks and finance companies), which fell 32 million baht; and in Personal Income Tax, which dropped by 63 million baht. But these shortfalls were covered by a whopping rise of 149 million baht in Juristic Income Tax, Thailand’s business tax. The rise represents an increase of 8.93% in tax paid by the island’s businesses. In all, the Provincial Revenue Office has gathered 2.299 billion baht in the 11 months, compared with 2.286 billion in the 1997-98 tax year, a rise of 0.57%.