Thai Revenue Dept braces for huge hole in annual tax revenue

The Thai Revenue Department is expected to fall short of its Bt2 trillion tax-collection target for the 2021 fiscal year (October 2020 to September 2021). - Bloomberg

BANGKOK (The Nation/ANN): Worried about a potentially sharp drop in tax income as the economy shrinks, the Revenue Department has urged people to file their tax returns before the Aug 31 deadline.

The department will fall short of its Bt2 trillion tax-collection target for the 2021 fiscal year (October 2020 to September 2021), said Ekniti Nitithanprapas, director general of the Revenue Department on Monday (Aug 24).