The Latest Breaking News from The Finance Ministry

Net direct tax collections have risen 11.2% in the first two and a half months of this financial year, with advance tax inflows for the first quarter of 2023-24 increasing 13.7%, the Finance Ministry said on June 18.

Prime Minister Prayut Chan-o-cha assigned the Finance Ministry and relevant agencies on Tuesday to study the possibility of extending the excise tax cut on diesel of 5 baht per litre, which is scheduled to end on July 20 this year.

The Finance Ministry has revoked a securities business licence of Asia Wealth Securities (AWS), as proposed by the Securities and Exchange Commission (SEC) for misuse of client funds without permission.

The Finance Ministry, in collaboration with the Thai Chamber of Commerce and the Rubber Authority of Thailand, has signed a letter of intent for the Capital Flow in Rubber Industrial Estate project to boost the international competitiveness of entrepreneurs in the rubber supply chain.

Handling the purse

The Finance Ministry reported government revenue collection for the first seven months of fiscal 2023 (October to April) exceeded the target by 112 billion baht, mainly contributed by agencies other than the Revenue Department, says Pornchai Thiraveja, director-general of the Fiscal Policy Office.

The business sector is calling for the new government to appoint appropriate leaders to take the helm at economic ministries, in particular the Finance Ministry, as they want to see the country progress without interruption amid several internal and external challenges.

Statistically, it is often observed that after a general election, the stock index experiences a significant jump, reflecting the heightened confidence of investors once the political scene becomes clearer.

The finance ministry has exempted imports of crude soya bean and sunflower oil from basic customs duty and agriculture infrastructure and development cess till June 30, subject to certain conditions.