Thailand’s Ministry of Finance stated that in the first ten months of the fiscal year (October 2024 – July 2025), the government has collected a total revenue of THB 2.25 trillion, an increase of THB 40.82 billion or 1.8% YoY, but still lower than the expectation by THB 37.63 billion or 1.6%.
This is due to automobile tax not being able to reach the target from EV incentive and lower taxable automobile sales than the estimation. Furthermore, the value added tax (VAT) from imports and corporate income tax also did not meet the expectation due to the high use of free trade zones and economic situation.
However, revenue from other government agencies and State-Owned Enterprises (SOEs) remittances were higher than the estimation. The ministry will continue monitoring the revenue collection process closely to manage revenue effectively for national development while maintaining economic stability.
In the ten-month period, revenue from the Revenue Department, Excise Department, and Customs Department rose to THB 2.36 trillion, an increase of THB 64.19 billion or 2.8% YoY, but still lower than expectation by THB 74.5 billion or 3.1%. The details are as followed:
- The Revenue Department generated revenue of THB 1.82 trillion, lower than the estimation by THB 11.91 billion or 0.6%.
- The Excise Department generated revenue of THB 446.72 billion, lower than the expectation by THB 56.26 billion or 11.2%.
- The Customs Department generated revenue of THB 95.26 billion, lower than the estimation by THB 6.33 billion or 6.2%.
- The State-Owned Enterprises remit revenue of THB 156.99 billion, higher than the expectation by THB 17.02 billion or 12.2%.
As for the revenue from the other agencies, it had reached THB 163.09 billion, higher than the estimation by THB 19.02 billion or 13.2%. Of this, the other government agencies contributed a revenue of THB 151.15 billion, higher than the target by THB 17.39 billion or 13%, while the Treasury Department contributed a revenue of THB 11.94 billion, higher than the target by THB 16.3 billion or 15.8%
Regarding the fiscal balance during the ten-month period, the government has a revenue of THB 2.24 trillion and expenditure of THB 3.16 trillion. To cover the deficit, the government borrowed THB 827.8 billion. As a result, at the end of July 2025, the government had a treasury reserve of THB 405.75 billion.
