Tuesday

Rally and Protests Harm Thailand Economy and Revenue Collection

Revenue collection in the fiscal 2009 is of concern although the revenue earned for this year exceeded a target, according to the Revenue Department.

Spokesman Sathit Rankasiri revealed the department managed to collect revenue for fiscal 2008 more than targeted by 50 billion baht, boosted by the increased collection from the tourism, export and banking sectors.

However, the revenue collection for the fiscal 2009, which would start in October, appeared worrying because the persistent rally by the People's Alliance for Democracy-led protesters and the State of Emergency declaration had frightened foreign tourists.

He said the hotel, tourism, transport and small- and medium-size businesses in provincial areas had been comprehensively affected by the ongoing political unrest.

So, it is believed the political turmoil would have a direct impact on the department's competence in its revenue collection for the fiscal 2009, he added. - Bangkok Post

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